Greenridge Global cut shares of SORL Auto Parts Inc. (NASDAQ:SORL) from a buy rating to a hold rating in a research note released on Wednesday morning. They currently have $4.50 price objective on the stock.
Separately, Zacks Investment Research lowered shares of SORL Auto Parts from a buy rating to a hold rating in a research note on Saturday, June 4th.
Shares of SORL Auto Parts (NASDAQ:SORL) opened at 3.72 on Wednesday. SORL Auto Parts has a 52 week low of $1.39 and a 52 week high of $4.85. The stock’s 50 day moving average price is $2.73 and its 200 day moving average price is $1.98. The stock has a market cap of $71.81 million, a price-to-earnings ratio of 4.59 and a beta of 1.55.
SORL Auto Parts (NASDAQ:SORL) last released its quarterly earnings data on Monday, August 15th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. The firm had revenue of $73.50 million for the quarter, compared to analyst estimates of $57.71 million. SORL Auto Parts had a net margin of 6.82% and a return on equity of 7.78%. During the same quarter in the prior year, the business earned $0.12 earnings per share. Equities research analysts anticipate that SORL Auto Parts will post $0.75 EPS 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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