Stoneridge (NYSE:SRI) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research note released on Monday.

SRI has been the topic of several other reports. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Stoneridge in a report on Thursday, October 31st. Stephens assumed coverage on Stoneridge in a research note on Monday, July 8th. They issued an “overweight” rating on the stock.

Stoneridge Stock Up 7.4 %

SRI stock opened at $7.74 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The stock has a market capitalization of $214.32 million, a price-to-earnings ratio of -28.67 and a beta of 1.36. The business’s fifty day moving average price is $10.73 and its two-hundred day moving average price is $13.87. Stoneridge has a fifty-two week low of $6.76 and a fifty-two week high of $19.91.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.32). The firm had revenue of $213.80 million for the quarter, compared to the consensus estimate of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, equities analysts anticipate that Stoneridge will post -0.38 earnings per share for the current year.

Institutional Trading of Stoneridge

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Stoneridge by 28.0% during the first quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock worth $241,000 after acquiring an additional 2,861 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Stoneridge in the first quarter worth approximately $238,000. Vanguard Group Inc. increased its holdings in Stoneridge by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,523,025 shares of the auto parts company’s stock worth $28,085,000 after purchasing an additional 44,600 shares in the last quarter. Comerica Bank increased its holdings in Stoneridge by 58,158.3% in the first quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock worth $773,000 after purchasing an additional 41,874 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Stoneridge in the second quarter worth approximately $344,000. 98.07% of the stock is owned by institutional investors and hedge funds.

About Stoneridge

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.