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

StockNews.com downgraded shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research note released on Wednesday.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research note on Thursday, October 31st.

Stoneridge Stock Performance

Shares of Stoneridge stock opened at $6.62 on Wednesday. The company’s 50 day moving average price is $9.34 and its two-hundred day moving average price is $13.22. The firm has a market capitalization of $183.31 million, a P/E ratio of -23.74 and a beta of 1.36. Stoneridge has a fifty-two week low of $5.89 and a fifty-two week high of $19.91. 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 released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.32). The firm had revenue of $213.80 million for the quarter, compared to analyst estimates of $229.60 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The company’s revenue was down 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. On average, equities analysts forecast that Stoneridge will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Stoneridge

A number of institutional investors and hedge funds have recently bought and sold shares of SRI. BNP Paribas Financial Markets increased its stake in shares of Stoneridge by 28.0% in the first quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock valued at $241,000 after buying an additional 2,861 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Stoneridge during the 1st quarter valued at approximately $238,000. Vanguard Group Inc. raised its holdings in Stoneridge by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,523,025 shares of the auto parts company’s stock worth $28,085,000 after purchasing an additional 44,600 shares during the last quarter. Comerica Bank lifted its position in shares of Stoneridge by 58,158.3% in the 1st quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock worth $773,000 after purchasing an additional 41,874 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Stoneridge in the 2nd quarter worth approximately $344,000. 98.07% of the stock is currently 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.