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

Stoneridge (NYSE:SRI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research note on Tuesday.

Stoneridge Trading Down 0.5 %

Shares of SRI opened at $5.37 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. Stoneridge has a 1-year low of $4.11 and a 1-year high of $18.57. The stock has a market cap of $148.58 million, a price-to-earnings ratio of -19.87 and a beta of 1.27. The firm has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $7.89.

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

Institutional Investors Weigh In On Stoneridge

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its position in Stoneridge by 119.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 39,324 shares of the auto parts company’s stock worth $247,000 after buying an additional 21,388 shares during the period. PharVision Advisers LLC purchased a new position in shares of Stoneridge during the 4th quarter worth about $392,000. Squarepoint Ops LLC boosted its position in shares of Stoneridge by 244.5% in the fourth quarter. Squarepoint Ops LLC now owns 44,071 shares of the auto parts company’s stock worth $276,000 after acquiring an additional 31,278 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Stoneridge in the fourth quarter valued at approximately $165,000. Finally, Two Sigma Investments LP acquired a new position in Stoneridge during the fourth quarter worth approximately $698,000. Institutional investors and hedge funds own 98.07% of the company’s stock.

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.