Stoneridge (NYSE:SRI) Earns “Outperform” Rating from Barrington Research

Stoneridge (NYSE:SRI)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a research note issued on Tuesday,Benzinga reports. They presently have a $16.00 price target on the auto parts company’s stock. Barrington Research’s price objective points to a potential upside of 202.51% from the stock’s current price.

Separately, StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a report on Friday.

Stoneridge Trading Down 3.3 %

Stoneridge stock traded down $0.18 during midday trading on Tuesday, hitting $5.29. 195,394 shares of the stock were exchanged, compared to its average volume of 352,376. Stoneridge has a 52 week low of $4.11 and a 52 week high of $18.57. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $146.44 million, a PE ratio of -19.59 and a beta of 1.34. The company has a fifty day simple moving average of $5.23 and a two-hundred day simple moving average of $8.04.

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

Institutional Inflows and Outflows

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