StockNews.com Upgrades Stoneridge (NYSE:SRI) to Buy

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

Separately, Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a report on Thursday, May 1st.

Stoneridge Trading Down 6.8%

Shares of SRI opened at $4.80 on Tuesday. Stoneridge has a 12-month low of $3.54 and a 12-month high of $18.40. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $133.66 million, a price-to-earnings ratio of -17.78 and a beta of 1.22. The stock’s 50-day moving average price is $4.43 and its 200 day moving average price is $5.43.

Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The company had revenue of $217.89 million during the quarter, compared to the consensus estimate of $212.42 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. As a group, research analysts predict that Stoneridge will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in Stoneridge by 4.9% in the 4th quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock valued at $304,000 after buying an additional 2,274 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Stoneridge by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock worth $3,882,000 after purchasing an additional 2,543 shares during the last quarter. US Bancorp DE increased its stake in shares of Stoneridge by 65.2% during the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 2,679 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Stoneridge by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock worth $100,000 after purchasing an additional 3,490 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Stoneridge during the 4th quarter worth approximately $25,000. Institutional investors and hedge funds 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.