Stoneridge (NYSE:SRI) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Stoneridge (NYSE:SRI) in a research note published on Thursday, Benzinga reports. The firm currently has a $16.00 price objective on the auto parts company’s stock.

SRI has been the subject of a number of other reports. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Stephens initiated coverage on Stoneridge in a research note on Monday, July 8th. They issued an “overweight” rating for the company.

Stoneridge Trading Down 1.4 %

NYSE SRI opened at $6.89 on Thursday. The stock has a 50-day simple moving average of $11.15 and a 200 day simple moving average of $14.03. The company has a market capitalization of $190.78 million, a PE ratio of -25.52 and a beta of 1.36. The company has a current ratio of 2.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.72. Stoneridge has a 12 month low of $6.76 and a 12 month high of $19.91.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The business had revenue of $213.80 million during the quarter, compared to analyst estimates of $229.60 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. Research analysts forecast that Stoneridge will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SRI. BNP Paribas Financial Markets boosted its position in shares of Stoneridge by 28.0% during the first quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock worth $241,000 after buying an additional 2,861 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Stoneridge during the first quarter worth about $238,000. Vanguard Group Inc. boosted 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 buying an additional 44,600 shares during the period. Comerica Bank boosted its position in shares of Stoneridge by 58,158.3% during the first quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock worth $773,000 after buying an additional 41,874 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Stoneridge during the second quarter worth about $344,000. 98.07% of the stock is owned by institutional investors and hedge funds.

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.