StockNews.com Upgrades Stoneridge (NYSE:SRI) to Buy

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

Separately, Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a research report on Monday, February 24th.

Stoneridge Stock Performance

Shares of SRI opened at $5.65 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $5.25 and a two-hundred day simple moving average of $8.14. The stock has a market cap of $156.33 million, a price-to-earnings ratio of -20.91 and a beta of 1.34. Stoneridge has a 52 week low of $4.11 and a 52 week high of $18.57.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). The company had revenue of $218.20 million during the quarter, compared to analysts’ expectations of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. On average, analysts expect that Stoneridge will post -0.42 EPS for the current year.

Institutional Trading of Stoneridge

Institutional investors have recently made changes to their positions in the business. Royce & Associates LP grew its position in shares of Stoneridge by 12.3% during 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 grew its position in shares of Stoneridge by 1.9% during the third quarter. State Street Corp now owns 628,981 shares of the auto parts company’s stock worth $7,038,000 after purchasing an additional 11,929 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Stoneridge by 296.0% during the third quarter. JPMorgan Chase & Co. now owns 56,696 shares of the auto parts company’s stock worth $634,000 after purchasing an additional 42,379 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Stoneridge by 27.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,736 shares of the auto parts company’s stock worth $378,000 after purchasing an additional 7,332 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Stoneridge by 218.3% during the third quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company’s stock worth $780,000 after purchasing an additional 47,829 shares in 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.