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

StockNews.com cut shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research report sent to investors on Monday.

A number of other analysts also recently issued reports on SRI. Stephens started coverage on shares of Stoneridge in a report on Monday, July 8th. They issued an “overweight” rating on the stock. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research report on Thursday, October 31st.

Stoneridge Price Performance

Shares of NYSE SRI opened at $7.43 on Monday. Stoneridge has a 1 year low of $6.76 and a 1 year high of $19.91. The firm has a fifty day moving average price of $10.60 and a 200-day moving average price of $13.82. 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 (NYSE:SRI) last issued its quarterly 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 return on equity of 0.42% and a negative net margin of 0.81%. The business had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $229.60 million. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was down 10.2% on a year-over-year basis. Analysts anticipate that Stoneridge will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Stoneridge

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Stoneridge by 3.0% in the 1st 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 in the last quarter. Comerica Bank grew its position in Stoneridge by 58,158.3% in the first quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock worth $773,000 after acquiring an additional 41,874 shares in the last quarter. Cowen AND Company LLC purchased a new position in Stoneridge in the second quarter worth about $2,234,000. EVR Research LP increased its stake in Stoneridge by 36.3% during the second quarter. EVR Research LP now owns 545,000 shares of the auto parts company’s stock worth $8,698,000 after acquiring an additional 145,000 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Stoneridge by 7.6% during the second quarter. Rhumbline Advisers now owns 47,251 shares of the auto parts company’s stock valued at $754,000 after purchasing an additional 3,353 shares during the period. 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.