Stoneridge (NYSE:SRI) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a report published on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Stoneridge has a consensus rating of “Hold” and an average price target of $16.00.

Stoneridge Price Performance

Shares of NYSE:SRI opened at $5.78 on Friday. The firm has a market cap of $161.82 million, a price-to-earnings ratio of -1.56 and a beta of 1.45. Stoneridge has a fifty-two week low of $3.54 and a fifty-two week high of $9.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 2.13. The firm has a fifty day moving average price of $7.26 and a 200 day moving average price of $6.94.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, March 11th. The auto parts company reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.55). Stoneridge had a negative return on equity of 12.50% and a negative net margin of 11.94%.The company had revenue of $205.15 million during the quarter, compared to analysts’ expectations of $211.70 million. As a group, sell-side analysts expect that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bailard Inc. purchased a new position in shares of Stoneridge in the second quarter worth about $377,000. XTX Topco Ltd grew its stake in Stoneridge by 64.4% during the 2nd quarter. XTX Topco Ltd now owns 160,997 shares of the auto parts company’s stock valued at $1,133,000 after acquiring an additional 63,079 shares in the last quarter. Federated Hermes Inc. raised its holdings in Stoneridge by 50.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,062,490 shares of the auto parts company’s stock valued at $7,480,000 after acquiring an additional 356,143 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of Stoneridge during the 2nd quarter worth approximately $70,000. Finally, 22NW LP grew its position in shares of Stoneridge by 19.4% in the second quarter. 22NW LP now owns 1,943,508 shares of the auto parts company’s stock valued at $13,682,000 after purchasing an additional 315,855 shares in the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Stoneridge Company Profile

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.