ValuEngine cut shares of SORL Auto Parts, Inc. (NASDAQ:SORL) from a buy rating to a hold rating in a research note released on Monday morning.

Separately, Zacks Investment Research downgraded SORL Auto Parts from a strong-buy rating to a hold rating in a report on Wednesday, July 19th.

Shares of SORL Auto Parts (NASDAQ SORL) opened at 3.96 on Monday. The stock’s 50 day moving average is $5.12 and its 200-day moving average is $5.57. SORL Auto Parts has a one year low of $2.68 and a one year high of $9.74. The stock has a market capitalization of $76.44 million, a P/E ratio of 3.13 and a beta of 1.67.

SORL Auto Parts (NASDAQ:SORL) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). The company had revenue of $90.22 million for the quarter, compared to analyst estimates of $90.61 million. SORL Auto Parts had a return on equity of 14.49% and a net margin of 7.90%. On average, equities research 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 SORL. Dynamic Technology Lab Private Ltd acquired a new position in shares of SORL Auto Parts in the 2nd quarter valued at about $115,000. California Public Employees Retirement System increased its holdings in shares of 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 during the period. MML Investors Services LLC acquired a new position in shares of SORL Auto Parts in the 2nd quarter valued at about $214,000. JPMorgan Chase & Co. acquired a new position in shares of SORL Auto Parts in the 2nd quarter valued at about $225,000. Finally, USA Financial Portformulas Corp acquired a new position in shares of SORL Auto Parts in the 2nd quarter valued at about $296,000. 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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