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

Stoneridge (NYSE:SRI) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, Barrington Research reiterated an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research note on Thursday, October 31st.

Stoneridge Stock Performance

Shares of SRI stock opened at $6.41 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72. The company has a market cap of $177.49 million, a PE ratio of -22.56 and a beta of 1.36. The company’s fifty day simple moving average is $9.45 and its 200-day simple moving average is $13.27. Stoneridge has a 52 week low of $5.89 and a 52 week high of $19.91.

Stoneridge (NYSE:SRI) last issued its earnings results 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 company had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. Stoneridge’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. As a group, equities research analysts anticipate that Stoneridge will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Stoneridge

Hedge funds have recently bought and sold shares of the business. Thrivent Financial for Lutherans grew its holdings in Stoneridge by 0.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,035,643 shares of the auto parts company’s stock worth $33,969,000 after acquiring an additional 24,548 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Stoneridge by 3.0% during 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 during the last quarter. Royce & Associates LP grew its stake in Stoneridge by 12.3% in the third quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock worth $15,185,000 after purchasing an additional 148,461 shares in the last quarter. State Street Corp increased its holdings in Stoneridge by 1.9% in the third quarter. State Street Corp now owns 628,981 shares of the auto parts company’s stock valued at $7,038,000 after buying an additional 11,929 shares during the last quarter. Finally, EVR Research LP raised its stake in 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 buying an additional 145,000 shares in the last quarter. Institutional investors and hedge funds 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.