Stoneridge (NYSE:SRI) Receives “Outperform” Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Stoneridge (NYSE:SRI) in a report released on Thursday, Benzinga reports. Barrington Research currently has a $16.00 price target on the auto parts company’s stock.

Several other analysts have also commented on the company. Stephens started coverage on Stoneridge in a research note on Monday, July 8th. They issued an “overweight” rating on the stock. StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th.

Stoneridge Price Performance

Shares of NYSE:SRI opened at $6.89 on Thursday. Stoneridge has a 1-year low of $6.76 and a 1-year high of $19.91. The firm has a market capitalization of $190.78 million, a PE ratio of -25.52 and a beta of 1.36. The business’s 50 day moving average is $11.15 and its 200-day moving average is $14.03. The company has a current ratio of 2.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.32). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm had revenue of $213.80 million for the quarter, compared to analyst estimates of $229.60 million. During the same period in the previous year, the business posted $0.10 EPS. Stoneridge’s revenue for the quarter was down 10.2% compared to the same quarter last year. Sell-side analysts predict that Stoneridge will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Stoneridge

Institutional investors have recently bought and sold shares of the business. US Bancorp DE bought a new position in Stoneridge in the 3rd quarter valued at $46,000. nVerses Capital LLC bought a new stake in shares of Stoneridge during the third quarter worth $59,000. Olympiad Research LP bought a new stake in shares of Stoneridge during the third quarter worth $121,000. XTX Topco Ltd bought a new stake in shares of Stoneridge during the second quarter worth $176,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Stoneridge by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after acquiring an additional 1,226 shares during the last quarter. 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.