Zacks Investment Research lowered shares of SORL Auto Parts, Inc. (NASDAQ:SORL) from a hold rating to a sell rating in a research report 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 upgraded shares of SORL Auto Parts from a buy rating to a strong-buy rating in a research note on Friday, June 2nd.

SORL Auto Parts (NASDAQ SORL) opened at 4.51 on Thursday. The company has a market cap of $87.06 million, a price-to-earnings ratio of 3.57 and a beta of 1.57. The company’s 50-day moving average price is $6.68 and its 200-day moving average price is $5.39. SORL Auto Parts has a 52-week low of $2.01 and a 52-week high of $9.74.

SORL Auto Parts (NASDAQ:SORL) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. SORL Auto Parts had a return on equity of 14.49% and a net margin of 7.90%. The company had revenue of $90.22 million for the quarter, compared to analyst estimates of $90.61 million. Equities research analysts expect that SORL Auto Parts will post $1.26 EPS for the current fiscal year.

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A number of large investors have recently made changes to their positions in SORL. Renaissance Technologies LLC raised its stake in shares of SORL Auto Parts by 234.0% in the fourth quarter. Renaissance Technologies LLC now owns 156,000 shares of the company’s stock valued at $474,000 after buying an additional 109,300 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of SORL Auto Parts by 226.5% in the first quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock valued at $209,000 after buying an additional 37,600 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of SORL Auto Parts during the second quarter valued at approximately $225,000. AJO LP bought a new stake in shares of SORL Auto Parts during the second quarter valued at approximately $1,832,000. Finally, MML Investors Services LLC bought a new stake in shares of SORL Auto Parts during the second quarter valued at approximately $214,000. Hedge funds and other institutional investors own 6.31% 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.

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