Zacks Investment Research downgraded shares of Sorl Auto Parts (NASDAQ:SORL) from a hold rating to a strong sell rating in a research note released on Thursday.
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 Sorl Auto Parts from a sell rating to a strong sell rating in a report on Friday, August 3rd.
Sorl Auto Parts (NASDAQ:SORL) last issued its quarterly earnings results on Wednesday, November 14th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The firm had revenue of $108.58 million for the quarter, compared to analyst estimates of $108.98 million. Sorl Auto Parts had a return on equity of 11.20% and a net margin of 2.63%. As a group, equities research analysts expect that Sorl Auto Parts will post 1.27 earnings per share 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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