Stoneridge (NYSE:SRI) Raised to Buy at StockNews.com

by · The Markets Daily

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

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

Check Out Our Latest Research Report on Stoneridge

Stoneridge Trading Down 4.3 %

NYSE:SRI opened at $7.20 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. Stoneridge has a fifty-two week low of $6.76 and a fifty-two week high of $19.91. The company has a 50 day moving average price of $10.32 and a 200 day moving average price of $13.69.

Stoneridge (NYSE:SRI – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). The firm had revenue of $213.80 million during 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 quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, equities analysts forecast that Stoneridge will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Stoneridge

Large investors have recently modified their holdings of the stock. Royce & Associates LP boosted its holdings in Stoneridge by 12.3% in the third quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock valued at $15,185,000 after purchasing an additional 148,461 shares during the period. EVR Research LP grew its position in shares of 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 buying an additional 145,000 shares in the last quarter. Cowen AND Company LLC acquired a new position in shares of Stoneridge during the second quarter worth about $2,234,000. Vanguard Group Inc. increased its stake 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. Finally, Comerica Bank raised its holdings in Stoneridge by 58,158.3% in the first quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock valued at $773,000 after acquiring an additional 41,874 shares in the last quarter. Hedge funds and other 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.

Featured Articles