Stoneridge (NYSE:SRI) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a report published on Saturday morning.

Separately, Barrington Research restated an “outperform” rating and set a $16.00 target price on shares of Stoneridge in a report on Tuesday, March 4th.

Stoneridge Trading Down 0.3 %

Stoneridge stock opened at $4.62 on Friday. The company has a market cap of $127.81 million, a price-to-earnings ratio of -17.09 and a beta of 1.27. The firm has a 50-day moving average of $4.93 and a 200-day moving average of $6.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. Stoneridge has a one year low of $4.11 and a one year high of $18.57.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.36). The company had revenue of $218.20 million for the quarter, compared to analyst estimates of $207.61 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. On average, equities analysts expect that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in Stoneridge in the third quarter valued at approximately $44,000. Federated Hermes Inc. acquired a new position in shares of Stoneridge during the 4th quarter worth approximately $25,000. US Bancorp DE raised its stake in Stoneridge by 65.2% in the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after acquiring an additional 2,679 shares during the period. Quantinno Capital Management LP acquired a new stake in Stoneridge during the 4th quarter valued at $63,000. Finally, SG Americas Securities LLC acquired a new stake in Stoneridge during the 4th quarter valued at $74,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

About Stoneridge

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.