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. “
Other equities research analysts also recently issued research reports about the company. TheStreet downgraded Sorl Auto Parts from a c rating to a d+ rating in a report on Friday, August 16th. ValuEngine downgraded Sorl Auto Parts from a sell rating to a strong sell rating in a report on Tuesday, July 23rd.
Sorl Auto Parts (NASDAQ:SORL) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. Sorl Auto Parts had a return on equity of 11.01% and a net margin of 2.42%. The business had revenue of $139.37 million during the quarter, compared to the consensus estimate of $120.73 million. During the same quarter last year, the firm posted $0.35 EPS. As a group, equities analysts anticipate that Sorl Auto Parts will post 1.1 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Sorl Auto Parts stock. Cable Hill Partners LLC lifted its position in shares of Sorl Auto Parts, Inc. (NASDAQ:SORL) by 682.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,766 shares of the company’s stock after buying an additional 15,496 shares during the quarter. Cable Hill Partners LLC’s holdings in Sorl Auto Parts were worth $63,000 as of its most recent SEC filing. Institutional investors own 5.33% of the company’s stock.
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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