Shares of Stoneridge, Inc. (NYSE:SRI) have earned an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $31.00.

SRI has been the subject of several research reports. ValuEngine upgraded Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Barrington Research restated a “buy” rating on shares of Stoneridge in a research note on Monday, August 6th. Buckingham Research started coverage on Stoneridge in a research note on Wednesday, June 20th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Zacks Investment Research downgraded Stoneridge from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th.

A number of hedge funds and other institutional investors have recently modified their holdings of SRI. Royal Bank of Canada boosted its stake in Stoneridge by 130.1% in the 1st quarter. Royal Bank of Canada now owns 851,241 shares of the auto parts company’s stock worth $23,494,000 after purchasing an additional 481,254 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Stoneridge in the 2nd quarter valued at about $16,714,000. Acadian Asset Management LLC raised its holdings in shares of Stoneridge by 73.0% in the 2nd quarter. Acadian Asset Management LLC now owns 772,025 shares of the auto parts company’s stock valued at $27,129,000 after acquiring an additional 325,870 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Stoneridge in the 2nd quarter valued at about $7,909,000. Finally, Millennium Management LLC raised its holdings in shares of Stoneridge by 92.4% in the 1st quarter. Millennium Management LLC now owns 246,708 shares of the auto parts company’s stock valued at $6,809,000 after acquiring an additional 118,463 shares in the last quarter. Institutional investors and hedge funds own 89.04% of the company’s stock.

Shares of SRI stock remained flat at $$24.73 on Friday. The stock had a trading volume of 276,981 shares, compared to its average volume of 268,279. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.13 and a quick ratio of 1.59. The company has a market cap of $846.51 million, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.70 and a beta of 1.06. Stoneridge has a 12 month low of $20.63 and a 12 month high of $37.69.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $220.60 million during the quarter, compared to the consensus estimate of $220.40 million. Stoneridge had a return on equity of 21.43% and a net margin of 6.52%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. On average, analysts predict that Stoneridge will post 2.05 EPS for the current fiscal year.

Stoneridge Company Profile

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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Analyst Recommendations for Stoneridge (NYSE:SRI)

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