Greenridge Global Downgrades SORL Auto Parts Inc. (SORL) to Hold
SORL Auto Parts Inc. (NASDAQ:SORL) was downgraded by research analysts at Greenridge Global from a “buy” rating to a “hold” rating in a report released on Wednesday. They currently have a $4.50 price target on the stock. Greenridge Global’s price objective suggests a potential upside of 20.32% from the company’s previous close.
Separately, Zacks Investment Research lowered SORL Auto Parts from a “buy” rating to a “hold” rating in a report on Saturday, June 4th.
SORL Auto Parts (NASDAQ:SORL) opened at 3.74 on Wednesday. SORL Auto Parts has a one year low of $1.39 and a one year high of $4.85. The firm has a market capitalization of $72.20 million, a price-to-earnings ratio of 4.62 and a beta of 1.55. The stock’s 50 day moving average price is $2.67 and its 200-day moving average price is $1.97.
SORL Auto Parts (NASDAQ:SORL) last issued its quarterly earnings results on Monday, August 15th. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.19. The company had revenue of $73.50 million for the quarter, compared to the consensus estimate of $57.71 million. SORL Auto Parts had a return on equity of 7.78% and a net margin of 6.82%. During the same period in the previous year, the business posted $0.12 EPS. On average, equities research analysts anticipate that SORL Auto Parts will post $0.75 earnings per share for the current fiscal year.
About SORL Auto Parts
SORL Auto Parts, Inc is a China-based Company through its 90% ownership of 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 (OEM), and the related aftermarket both in China and abroad.
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