Stoneridge (NYSE:SRI) Stock Rating Lowered by StockNews.com

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

Separately, Barrington Research reiterated an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research note on Tuesday.

Stoneridge Stock Performance

NYSE:SRI opened at $5.37 on Friday. The firm’s fifty day simple moving average is $5.18 and its 200 day simple moving average is $7.89. 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 has a twelve month low of $4.11 and a twelve month high of $18.57. The firm has a market capitalization of $148.58 million, a price-to-earnings ratio of -19.87 and a beta of 1.27.

Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.36). The company had revenue of $218.20 million during the quarter, compared to analysts’ expectations of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. As a group, equities research analysts expect that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Trading of Stoneridge

Several large investors have recently modified their holdings of SRI. Federated Hermes Inc. acquired a new position in shares of Stoneridge in the fourth quarter worth about $25,000. US Bancorp DE increased its holdings in Stoneridge by 65.2% during the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 2,679 shares during the last quarter. Quarry LP acquired a new position in shares of Stoneridge in the 3rd quarter valued at approximately $44,000. Quantinno Capital Management LP purchased a new position in shares of Stoneridge during the 4th quarter valued at approximately $63,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Stoneridge during the fourth quarter worth approximately $74,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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.