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 report issued on Monday morning.

SRI has been the subject of a number of other reports. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a report on Thursday, October 31st. Stephens assumed coverage on Stoneridge in a report on Monday, July 8th. They issued an “overweight” rating for the company.

Stoneridge Stock Up 7.4 %

Shares of NYSE:SRI opened at $7.74 on Monday. Stoneridge has a 52 week low of $6.76 and a 52 week high of $19.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The company’s fifty day moving average is $10.73 and its 200-day moving average is $13.87. The company has a market capitalization of $214.32 million, a PE ratio of -28.67 and a beta of 1.36.

Stoneridge (NYSE:SRI) last issued its 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 firm had revenue of $213.80 million during the quarter, compared to analyst estimates of $229.60 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts predict that Stoneridge will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Stoneridge

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position 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 valued at $28,085,000 after purchasing an additional 44,600 shares during the period. Royce & Associates LP boosted its position in Stoneridge by 12.3% during the 3rd quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock worth $15,185,000 after acquiring an additional 148,461 shares during the last quarter. EVR Research LP boosted its position in Stoneridge by 36.3% during the 2nd 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. AYAL Capital Advisors Ltd boosted its position in Stoneridge by 3.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 390,393 shares of the auto parts company’s stock worth $6,231,000 after acquiring an additional 12,900 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Stoneridge by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 160,184 shares of the auto parts company’s stock worth $2,557,000 after acquiring an additional 23,569 shares during the last quarter. 98.07% of the stock is owned by 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.