Stoneridge (NYSE:SRI) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Separately, Stephens began coverage on shares of Stoneridge in a research report on Monday, July 8th. They set an overweight rating for the company.

Stoneridge Trading Up 0.3 %

Shares of SRI stock opened at $13.94 on Wednesday. The business has a 50-day moving average price of $15.61 and a two-hundred day moving average price of $16.42. Stoneridge has a 12-month low of $13.44 and a 12-month high of $21.70. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.69. The firm has a market cap of $385.86 million, a P/E ratio of -99.56 and a beta of 1.33.

Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, July 31st. The auto parts company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.19. The company had revenue of $237.10 million during the quarter, compared to the consensus estimate of $242.90 million. Stoneridge had a return on equity of 3.03% and a net margin of 0.19%. Stoneridge’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. Equities analysts anticipate that Stoneridge will post 0.15 EPS for the current fiscal year.

Institutional Trading of Stoneridge

Several hedge funds and other institutional investors have recently bought and sold shares of SRI. The Manufacturers Life Insurance Company increased its stake in shares of Stoneridge by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after buying an additional 1,226 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of Stoneridge in the second quarter valued at about $472,000. EVR Research LP raised its stake in shares of Stoneridge by 36.3% during the second quarter. EVR Research LP now owns 545,000 shares of the auto parts company’s stock valued at $8,698,000 after acquiring an additional 145,000 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Stoneridge during the second quarter worth about $252,000. Finally, AYAL Capital Advisors Ltd grew its stake in shares of Stoneridge by 3.4% in the second quarter. AYAL Capital Advisors Ltd now owns 390,393 shares of the auto parts company’s stock worth $6,231,000 after purchasing an additional 12,900 shares during the last quarter. Institutional investors own 98.07% of the company’s stock.

Stoneridge Company Profile

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.