Stoneridge (NYSE:SRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “Stoneridge Inc. is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. Their products interface with a vehicle’s mechanical and electrical systems to activate equipment and accessories, display and monitor vehicle performance, and control and distribute electrical power and signals. “

Several other research analysts have also recently weighed in on SRI. Buckingham Research set a $32.00 price objective on shares of Stoneridge and gave the stock a “buy” rating in a research report on Friday, December 28th. Stephens restated a “buy” rating and issued a $31.00 price objective on shares of Stoneridge in a research report on Sunday, January 6th. Barrington Research set a $50.00 price objective on shares of Stoneridge and gave the stock a “buy” rating in a research report on Monday, October 29th. Finally, ValuEngine cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $33.00.

Shares of SRI traded down $0.60 during midday trading on Friday, hitting $26.94. 1,652 shares of the company traded hands, compared to its average volume of 264,036. Stoneridge has a one year low of $21.68 and a one year high of $37.69. The stock has a market cap of $781.04 million, a PE ratio of 17.15, a P/E/G ratio of 1.51 and a beta of 1.11. The company has a quick ratio of 1.60, a current ratio of 2.20 and a debt-to-equity ratio of 0.38.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Friday, October 26th. The auto parts company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The company had revenue of $208.90 million for the quarter, compared to analysts’ expectations of $204.36 million. Stoneridge had a net margin of 7.09% and a return on equity of 21.77%. Stoneridge’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Analysts expect that Stoneridge will post 2.03 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of SRI. Massachusetts Financial Services Co. MA grew its position in Stoneridge by 145.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,168,404 shares of the auto parts company’s stock valued at $34,725,000 after acquiring an additional 692,760 shares during the last quarter. Walthausen & Co. LLC bought a new position in Stoneridge during the third quarter valued at approximately $15,639,000. Thomson Horstmann & Bryant Inc. boosted its stake in shares of Stoneridge by 2,266.4% during the third quarter. Thomson Horstmann & Bryant Inc. now owns 277,579 shares of the auto parts company’s stock valued at $8,249,000 after purchasing an additional 265,849 shares during the period. Vanguard Group Inc boosted its stake in shares of Stoneridge by 15.4% during the third quarter. Vanguard Group Inc now owns 1,512,485 shares of the auto parts company’s stock valued at $44,952,000 after purchasing an additional 201,789 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Stoneridge by 15.4% during the third quarter. Vanguard Group Inc. now owns 1,512,485 shares of the auto parts company’s stock valued at $44,952,000 after purchasing an additional 201,789 shares during the period. Institutional investors and hedge funds own 93.82% of the company’s stock.

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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