Stoneridge (NYSE:SRI) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research note published on Thursday.

Stoneridge Trading Down 1.8 %

Shares of NYSE SRI opened at $15.76 on Thursday. Stoneridge has a fifty-two week low of $14.63 and a fifty-two week high of $24.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.40 and a current ratio of 2.39. The company has a market cap of $436.08 million, a price-to-earnings ratio of -112.56 and a beta of 1.39. The business’s 50 day moving average price is $15.80 and its 200-day moving average price is $17.11.

Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, May 1st. The auto parts company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $239.20 million during the quarter, compared to analysts’ expectations of $223.20 million. Stoneridge had a positive return on equity of 0.84% and a negative net margin of 0.41%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.25) EPS. On average, sell-side analysts expect that Stoneridge will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO James Zizelman bought 6,500 shares of the stock in a transaction on Tuesday, May 7th. The stock was acquired at an average cost of $15.72 per share, for a total transaction of $102,180.00. Following the acquisition, the chief executive officer now owns 6,500 shares of the company’s stock, valued at $102,180. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently modified their holdings of SRI. Frontier Capital Management Co. LLC lifted its holdings in Stoneridge by 2.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,197,542 shares of the auto parts company’s stock worth $43,006,000 after buying an additional 43,602 shares during the period. Dimensional Fund Advisors LP boosted its position in Stoneridge by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,531,421 shares of the auto parts company’s stock valued at $29,970,000 after purchasing an additional 61,849 shares in the last quarter. Vanguard Group Inc. boosted its position in Stoneridge by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,523,025 shares of the auto parts company’s stock valued at $28,085,000 after purchasing an additional 44,600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Stoneridge by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,942 shares of the auto parts company’s stock worth $8,629,000 after purchasing an additional 25,357 shares in the last quarter. Finally, Ranger Investment Management L.P. lifted its position in shares of Stoneridge by 35.1% during the fourth quarter. Ranger Investment Management L.P. now owns 373,180 shares of the auto parts company’s stock valued at $7,303,000 after buying an additional 97,051 shares during the last quarter. Hedge funds and other 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.