Stoneridge (NYSE:SRI) Upgraded by StockNews.com to Buy Rating

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

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

Stoneridge Stock Performance

NYSE SRI opened at $6.61 on Tuesday. The company has a market capitalization of $182.89 million, a price-to-earnings ratio of -24.46 and a beta of 1.36. 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 twelve month low of $6.49 and a twelve month high of $19.91. The stock has a fifty day simple moving average of $9.93 and a 200 day simple moving average of $13.53.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data 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). The company had revenue of $213.80 million for the quarter, compared to the consensus estimate of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. Stoneridge’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. Sell-side analysts expect that Stoneridge will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Stoneridge

Several institutional investors and hedge funds have recently made changes to their positions in SRI. Quarry LP acquired a new position in Stoneridge in the third quarter valued at approximately $44,000. US Bancorp DE acquired a new position in shares of Stoneridge during the 3rd quarter valued at $46,000. nVerses Capital LLC bought a new position in Stoneridge during the third quarter worth $59,000. Olympiad Research LP bought a new position in Stoneridge during the third quarter worth $121,000. Finally, XTX Topco Ltd bought a new stake in Stoneridge in the second quarter valued at $176,000. 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.