Zacks Investment Research Raises SORL Auto Parts, Inc. Rating

SORL Auto Parts, Inc. Rating

In a note on Friday, Zacks Investment Research increased their rating of SORL Auto Parts, Inc. (NASDAQ:$SORL) from ‘Sell’ to ‘Hold’.

On Friday, SORL opened at $3.97. The company has a market cap of $76.64 million. The company also has a 50 and 200-day moving average of $5.12 and $5.57 respectively. Their 12-month low and high of $2.68 and $9.74.

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SORL is an auto parts manufacturer who specializes in developing, producing and distributing brake valves, specifically air and hydraulic. SORL works with 42 different vehicle manufacturers and they sell parts to equipment manufacturers, international customers, and aftermarket distributors. They are based in Wenzhou City, China, in the Ruian District.

On August 14th, SORL reported its latest earning results with an EPS of $0.31, just missing the consensus forecast of $0.33. Analysts estimate that the company will have an EPS of $1.26 in the current year. Estimates pegged SORL at a revenue cost of $90.61 million, but the company fell slightly short of that at $90.22 million. The company boasts a net margin of 7.90% and a return on equity of 14.49%.

On June 2nd, ValuEngine also weighed in on the company. They moved their rating from ‘Buy’ to ‘Strong-Buy’

Several institutional investors have adjusted their stakes in the company;

  • JPMorgan Chase & Co (NYSE:$JPM) bought a position in SORL valued in at $225,000.
  • California Public Employees Retirement System acquired 37,600 shares, adding to a total of 54,200 worth approximately $209,000.
  • USA Financial Portformulas bought into the company with a rough value of $296,000 in the second quarter.
  • Navellier & Associates Inc increased its shares to a total of 67,285 shares with a value of $449,000 after acquiring 10,875 during the last quarter.
  • AJO LP bought a fresh position worth about $1,832,000 in the second quarter.

The company currently has 9.68% stock ownership by institutions.

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