SORL Auto Parts, Inc. (SORL) Rating Lowered to Sell at Zacks Investment Research

SORL Auto Parts, Inc. (NASDAQ:SORL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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According to Zacks, “Sorl Auto Parts specializes in the development, production and distribution of air brake valves and hydraulic brake valves. It is headquartered in the Ruian District of Wenzhou City, China’s automotive manufacturing center. SORL sells its products to forty-two vehicle manufacturers, including all of the truck manufacturers in China. SORL’s customer base consists of original equipment manufacturers, aftermarket distributors, and international customers. “

Separately, ValuEngine raised shares of SORL Auto Parts from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd.

SORL Auto Parts (SORL) opened at 4.51 on Thursday. The firm’s 50-day moving average price is $6.68 and its 200-day moving average price is $5.39. The company has a market capitalization of $87.06 million, a price-to-earnings ratio of 3.57 and a beta of 1.57. SORL Auto Parts has a 52 week low of $2.06 and a 52 week high of $9.74.

SORL Auto Parts (NASDAQ:SORL) last issued its quarterly earnings data on Monday, August 14th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The company had revenue of $90.22 million during the quarter, compared to the consensus estimate of $90.61 million. SORL Auto Parts had a net margin of 7.90% and a return on equity of 14.49%. On average, equities analysts expect that SORL Auto Parts will post $1.26 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of SORL Auto Parts during the second quarter valued at about $115,000. California Public Employees Retirement System boosted its position in shares of SORL Auto Parts by 226.5% in the first quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock valued at $209,000 after buying an additional 37,600 shares during the period. MML Investors Services LLC acquired a new position in shares of SORL Auto Parts during the second quarter valued at about $214,000. JPMorgan Chase & Co. acquired a new position in shares of SORL Auto Parts during the second quarter valued at about $225,000. Finally, USA Financial Portformulas Corp acquired a new position in shares of SORL Auto Parts during the second quarter valued at about $296,000. Hedge funds and other institutional investors own 6.31% of the company’s stock.

SORL Auto Parts Company Profile

SORL Auto Parts, Inc, through its interests in the Ruili Group Ruian Auto Parts Co, Ltd., a Sino-foreign joint venture (Joint Venture), develops, manufactures and distributes automotive brake systems and other safety related auto parts to automotive original equipment manufacturers (OEMs), and the related aftermarket both in China and abroad.