Stoneridge (NYSE:SRI) Downgraded to Hold Rating by StockNews.com

by · The Markets Daily

StockNews.com lowered shares of Stoneridge (NYSE:SRI – Free Report) from a buy rating to a hold rating in a research note published on Monday morning.

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

Get Our Latest Research Report on Stoneridge

Stoneridge Trading Up 1.5 %

Shares of NYSE SRI opened at $6.99 on Monday. The business’s 50 day moving average is $11.00 and its 200-day moving average is $13.97. Stoneridge has a 1-year low of $6.76 and a 1-year high of $19.91. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing the consensus estimate 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 quarter last year, the company posted $0.10 earnings per share. The company’s revenue was down 10.2% on a year-over-year basis. Analysts expect that Stoneridge will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Institutional investors have recently made changes to their positions in the stock. Olympiad Research LP acquired a new position in shares of Stoneridge in the third quarter worth approximately $121,000. US Bancorp DE bought a new position in Stoneridge during the 3rd quarter worth approximately $46,000. nVerses Capital LLC acquired a new position in shares of Stoneridge in the 3rd quarter worth approximately $59,000. The Manufacturers Life Insurance Company lifted its position in shares of Stoneridge by 12.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after purchasing an additional 1,226 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of Stoneridge in the 2nd quarter valued at $472,000. Institutional investors own 98.07% of the company’s stock.

Stoneridge Company Profile

(Get Free Report)

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.

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