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

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

SIFCO Industries Stock Up 1.8 %

Shares of NYSE SIF opened at $2.61 on Friday. SIFCO Industries has a twelve month low of $2.45 and a twelve month high of $5.96. The firm has a market cap of $16.02 million, a PE ratio of -3.67 and a beta of 0.98. The business has a fifty day simple moving average of $3.06 and a two-hundred day simple moving average of $3.57.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SIFCO Industries stock. Renaissance Technologies LLC lifted its holdings in SIFCO Industries, Inc. (NYSE:SIF) by 17.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 52,734 shares of the company’s stock after purchasing an additional 7,900 shares during the period. Renaissance Technologies LLC owned about 0.85% of SIFCO Industries worth $187,000 at the end of the most recent quarter. Institutional investors and hedge funds own 24.20% of the company’s stock.

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.