Stoneridge (NYSE:SRI) Lowered to “Hold” at StockNews.com

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

Stoneridge Stock Down 1.8 %

NYSE SRI traded down $0.29 on Thursday, reaching $15.76. The stock had a trading volume of 123,657 shares, compared to its average volume of 112,525. The business has a 50 day moving average price of $15.80 and a 200 day moving average price of $17.11. The company has a current ratio of 2.39, a quick ratio of 1.40 and a debt-to-equity ratio of 0.70. Stoneridge has a 1 year low of $14.63 and a 1 year high of $24.51. The company has a market capitalization of $436.08 million, a price-to-earnings ratio of -112.56 and a beta of 1.39.

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

Insider Buying and Selling at Stoneridge

In related news, CEO James Zizelman purchased 6,500 shares of Stoneridge stock in a transaction on Tuesday, May 7th. The stock was bought at an average price of $15.72 per share, with a total value of $102,180.00. Following the completion of the transaction, the chief executive officer now directly owns 6,500 shares of the company’s stock, valued at $102,180. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Stoneridge

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in shares of Stoneridge by 4.4% in the fourth quarter. Russell Investments Group Ltd. now owns 279,041 shares of the auto parts company’s stock worth $5,461,000 after buying an additional 11,716 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Stoneridge by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 415,585 shares of the auto parts company’s stock worth $8,341,000 after purchasing an additional 4,365 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Stoneridge during the 3rd quarter worth about $227,000. Ranger Investment Management L.P. lifted its position in shares of Stoneridge by 35.1% during the 4th quarter. Ranger Investment Management L.P. now owns 373,180 shares of the auto parts company’s stock worth $7,303,000 after purchasing an additional 97,051 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Stoneridge by 19.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 15,242 shares of the auto parts company’s stock worth $298,000 after purchasing an additional 2,510 shares during the last quarter. 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.