Sorl Auto Parts (SORL) Stock Rating Lowered by Zacks Investment Research
Sorl Auto Parts (NASDAQ:SORL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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 cut shares of Sorl Auto Parts from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 26th.
Sorl Auto Parts (NASDAQ:SORL) last released its quarterly earnings data on Tuesday, August 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Sorl Auto Parts had a net margin of 5.75% and a return on equity of 12.83%. The firm had revenue of $128.51 million for the quarter, compared to analysts’ expectations of $106.44 million. As a group, equities analysts predict that Sorl Auto Parts will post 1.4 EPS for the current year.
About Sorl Auto Parts
SORL Auto Parts, Inc, together with its subsidiaries, develops, manufactures, and distributes automotive brake systems and other safety related auto parts to automotive original equipment manufacturers and the related aftermarket in the People's Republic of China. It operates through two segments, Commercial Vehicles Brake Systems and Passenger Vehicles Brake Systems.
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