Stoneridge (NYSE:SRI) Lifted to “Buy” at StockNews.com

Stoneridge (NYSE:SRI) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Stoneridge Stock Down 0.1 %

Shares of NYSE:SRI opened at $15.23 on Friday. Stoneridge has a 52-week low of $14.63 and a 52-week high of $24.51. The firm has a market capitalization of $421.41 million, a P/E ratio of -108.78 and a beta of 1.33. The stock has a 50 day moving average price of $15.81 and a 200-day moving average price of $17.03. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.40 and a current ratio of 2.39.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, May 1st. The auto parts company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). Stoneridge had a negative net margin of 0.41% and a positive return on equity of 0.84%. The company had revenue of $239.20 million for the quarter, compared to the consensus estimate of $223.20 million. During the same period last year, the business earned ($0.25) EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis.

Insider Activity at Stoneridge

In related news, CEO James Zizelman acquired 6,500 shares of Stoneridge stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $15.72 per share, with a total value of $102,180.00. Following the transaction, the chief executive officer now directly owns 6,500 shares in the company, valued at $102,180. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Stoneridge

Several institutional investors have recently added to or reduced their stakes in the business. Comerica Bank boosted its stake in Stoneridge by 58,158.3% during the 1st quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock valued at $773,000 after purchasing an additional 41,874 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $28,085,000 after purchasing an additional 44,600 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Stoneridge during the 1st quarter valued at $238,000. BNP Paribas Financial Markets boosted its stake in Stoneridge by 28.0% during the 1st quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock valued at $241,000 after purchasing an additional 2,861 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in Stoneridge by 2.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,197,542 shares of the auto parts company’s stock valued at $43,006,000 after purchasing an additional 43,602 shares during the last quarter. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

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.