Stoneridge (NYSE:SRI) Stock Rating Upgraded by StockNews.com

Stoneridge (NYSE:SRI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

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

Stoneridge Stock Performance

Shares of SRI stock opened at $4.63 on Friday. Stoneridge has a 12-month low of $4.11 and a 12-month high of $18.57. The company has a market capitalization of $128.09 million, a P/E ratio of -17.13 and a beta of 1.27. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $4.96 and its two-hundred day moving average is $6.99.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. purchased a new stake in shares of Stoneridge in the fourth quarter valued at about $25,000. US Bancorp DE boosted its holdings 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 purchasing an additional 2,679 shares during the last quarter. Quarry LP purchased a new stake in shares of Stoneridge in the 3rd quarter valued at approximately $44,000. Quantinno Capital Management LP acquired a new stake in shares of Stoneridge during the 4th quarter worth approximately $63,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Stoneridge during the 4th quarter valued at approximately $74,000. Hedge funds and other institutional investors own 98.07% of the company’s stock.

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.