StockNews.com Begins Coverage on SIFCO Industries (NYSE:SIF)

Equities researchers at StockNews.com initiated coverage on shares of SIFCO Industries (NYSE:SIF) in a research note issued on Thursday. The brokerage set a “buy” rating on the stock.

SIFCO Industries Trading Down 6.4 %

SIFCO Industries stock opened at $2.62 on Thursday. The company’s 50-day moving average price is $3.20 and its two-hundred day moving average price is $3.66. The stock has a market cap of $16.11 million, a price-to-earnings ratio of -3.69 and a beta of 0.98. SIFCO Industries has a 52 week low of $2.63 and a 52 week high of $5.96.

Institutional Investors Weigh In On SIFCO Industries

A hedge fund recently raised its stake in SIFCO Industries stock. Renaissance Technologies LLC grew its holdings in shares of SIFCO Industries, Inc. (NYSE:SIF) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,734 shares of the company’s stock after purchasing an additional 7,900 shares during the period. Renaissance Technologies LLC owned approximately 0.85% of SIFCO Industries worth $187,000 as of its most recent filing with the Securities and Exchange Commission. 24.20% of the stock is owned by hedge funds and other institutional investors.

SIFCO Industries Company Profile

SIFCO Industries, Inc, together with its subsidiaries, produces and sells forgings and machined components primarily for the aerospace and energy markets in North America and Europe. The company’s processes and services include forging, heat-treating, chemical processing, and machining. It also offers original equipment manufacturer and aftermarket components for aircraft and industrial gas turbine engines; steam turbine blades; structural airframe components; aircraft landing gear components; aircraft wheels and brakes; rotating components for helicopters; and commercial/industrial products.