SIFCO Industries (NYSE:SIF) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of SIFCO Industries (NYSE:SIF) in a report released on Tuesday. The brokerage set a “buy” rating on the stock.

SIFCO Industries Stock Down 2.8 %

Shares of NYSE SIF opened at $2.82 on Tuesday. 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 $17.33 million, a price-to-earnings ratio of -3.97 and a beta of 1.26. The business has a fifty day simple moving average of $3.40 and a 200-day simple moving average of $3.83.

Hedge Funds Weigh In On SIFCO Industries

A hedge fund recently raised its stake in SIFCO Industries stock. Renaissance Technologies LLC raised its stake in shares of SIFCO Industries, Inc. (NYSE:SIF) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,734 shares of the company’s stock after buying an additional 7,900 shares during the period. Renaissance Technologies LLC owned about 0.85% of SIFCO Industries worth $187,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 24.20% of the company’s stock.

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.