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

Equities researchers at StockNews.com initiated coverage on shares of SIFCO Industries (NYSE:SIF) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating on the stock.

SIFCO Industries Stock Performance

SIF opened at $2.97 on Monday. SIFCO Industries has a one year low of $2.84 and a one year high of $5.96. The company has a market cap of $18.26 million, a P/E ratio of -4.18 and a beta of 1.26. The business’s 50-day simple moving average is $3.50 and its 200-day simple moving average is $3.89.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SIFCO Industries stock. Renaissance Technologies LLC grew its holdings in SIFCO Industries, Inc. (NYSE:SIF) by 17.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 52,734 shares of the company’s stock after acquiring an additional 7,900 shares during the quarter. Renaissance Technologies LLC owned about 0.85% of SIFCO Industries worth $187,000 at the end of the most recent reporting period. 24.20% of the stock is currently owned by institutional investors and hedge funds.

About SIFCO Industries

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.