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

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

SIFCO Industries Stock Performance

Shares of NYSE SIF opened at $2.79 on Wednesday. The stock has a fifty day moving average price of $3.33 and a 200 day moving average price of $3.76. SIFCO Industries has a 12-month low of $2.77 and a 12-month high of $5.96. The company has a market cap of $17.15 million, a P/E ratio of -3.93 and a beta of 1.26.

Hedge Funds Weigh In On SIFCO Industries

An institutional investor recently raised its position in SIFCO Industries stock. Renaissance Technologies LLC raised its position in SIFCO Industries, Inc. (NYSE:SIF) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,734 shares of the company’s stock after acquiring an additional 7,900 shares during the quarter. Renaissance Technologies LLC owned 0.85% of SIFCO Industries worth $187,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.