Stoneridge’s (SRI) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Stoneridge (NYSE:SRI) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $16.00 price target on the auto parts company’s stock.

Separately, StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research report on Friday, February 28th.

Stoneridge Trading Down 9.1 %

NYSE:SRI opened at $5.38 on Tuesday. The stock has a fifty day simple moving average of $5.20 and a 200 day simple moving average of $7.95. 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 firm has a market capitalization of $148.82 million, a price-to-earnings ratio of -19.91 and a beta of 1.34. Stoneridge has a 1-year low of $4.11 and a 1-year high of $18.57.

Stoneridge (NYSE:SRI) last released its 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). The firm 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%. Sell-side analysts forecast that Stoneridge will post -0.42 earnings per share for the current year.

Institutional Trading of Stoneridge

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers grew its position in Stoneridge by 4.9% during the fourth quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock valued at $304,000 after purchasing an additional 2,274 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Stoneridge by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock valued at $3,882,000 after acquiring an additional 2,543 shares in the last quarter. US Bancorp DE increased its stake in shares of Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after acquiring an additional 2,679 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Stoneridge by 25.7% during the third quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock worth $155,000 after acquiring an additional 2,833 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Stoneridge by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock worth $100,000 after acquiring an additional 3,490 shares in the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

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.