Stoneridge (NYSE:SRI) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research note released on Wednesday.

Separately, Barrington Research reissued an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a report on Thursday, October 31st.

Stoneridge Stock Up 1.5 %

SRI stock opened at $6.09 on Wednesday. The firm has a 50 day moving average of $9.57 and a 200-day moving average of $13.32. Stoneridge has a 12 month low of $5.89 and a 12 month high of $19.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The firm had revenue of $213.80 million for the quarter, compared to analysts’ expectations of $229.60 million. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities analysts expect that Stoneridge will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Stoneridge by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,523,025 shares of the auto parts company’s stock valued at $28,085,000 after acquiring an additional 44,600 shares in the last quarter. Comerica Bank raised its stake in Stoneridge by 58,158.3% in the first quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock worth $773,000 after buying an additional 41,874 shares in the last quarter. Royce & Associates LP raised its stake in Stoneridge by 12.3% in the third quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock worth $15,185,000 after buying an additional 148,461 shares in the last quarter. Cowen AND Company LLC bought a new stake in Stoneridge during the 2nd quarter valued at approximately $2,234,000. Finally, EVR Research LP grew its holdings in shares of Stoneridge by 36.3% during the 2nd quarter. EVR Research LP now owns 545,000 shares of the auto parts company’s stock worth $8,698,000 after acquiring an additional 145,000 shares during the period. 98.07% of the stock is currently owned by institutional investors.

Stoneridge Company Profile

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.