SORL Auto Parts, Inc. (NASDAQ:SORL) Lifted to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of SORL Auto Parts, Inc. (NASDAQ:SORL) from a sell rating to a hold rating in a report issued on Friday, September 22nd.

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 upgraded shares of SORL Auto Parts from a buy rating to a strong-buy rating in a research report on Friday, June 2nd.

SORL Auto Parts (NASDAQ:SORL) opened at 3.82 on Friday. The stock has a market cap of $73.74 million, a price-to-earnings ratio of 3.02 and a beta of 1.66. SORL Auto Parts has a 12 month low of $2.68 and a 12 month high of $9.74. The stock’s 50 day moving average price is $5.12 and its 200-day moving average price is $5.57.

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

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Several institutional investors and hedge funds have recently modified their holdings of the stock. AJO LP purchased a new stake in shares of SORL Auto Parts during the second quarter worth approximately $1,832,000. Navellier & Associates Inc lifted its holdings in SORL Auto Parts by 19.3% in the 2nd quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock valued at $449,000 after purchasing an additional 10,875 shares in the last quarter. California Public Employees Retirement System lifted its holdings in SORL Auto Parts by 226.5% in the 1st quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock valued at $209,000 after purchasing an additional 37,600 shares in the last quarter. USA Financial Portformulas Corp purchased a new position in SORL Auto Parts in the 2nd quarter valued at $296,000. Finally, JPMorgan Chase & Co. acquired a new stake in SORL Auto Parts during the 2nd quarter worth $225,000. Hedge funds and other institutional investors own 9.68% of the company’s stock.

About SORL Auto Parts

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.

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