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 %
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
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.
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