Stoneridge (NYSE:SRI) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Stoneridge (NYSE:SRI) to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

SRI has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Monday, December 29th. Wall Street Zen raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Finally, Barrington Research lowered shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $16.00.

Stoneridge Stock Down 0.1%

SRI stock opened at $5.48 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 2.30 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $7.23 and a two-hundred day moving average price of $6.87. The company has a market cap of $153.39 million, a price-to-earnings ratio of -1.48 and a beta of 1.45. Stoneridge has a twelve month low of $3.54 and a twelve month high of $9.71.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, March 11th. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.55). The company had revenue of $205.15 million for the quarter, compared to the consensus estimate of $211.70 million. Stoneridge had a negative return on equity of 13.49% and a negative net margin of 11.94%. Analysts anticipate that Stoneridge will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Stoneridge during the 1st quarter worth $39,000. Quadrature Capital Ltd bought a new stake in shares of Stoneridge in the fourth quarter valued at about $61,000. NewEdge Advisors LLC acquired a new position in shares of Stoneridge in the fourth quarter valued at about $62,000. WINTON GROUP Ltd acquired a new position in shares of Stoneridge in the fourth quarter valued at about $69,000. Finally, Catalyst Funds Management Pty Ltd bought a new position in Stoneridge during the second quarter worth about $70,000. 98.07% of the stock is owned by institutional investors and hedge funds.

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.