Stoneridge (NYSE:SRI) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Barrington Research reiterated an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a research note on Tuesday, March 4th.

Stoneridge Stock Down 0.5 %

SRI stock opened at $5.37 on Friday. The company’s 50 day moving average price is $5.18 and its 200 day moving average price is $7.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. Stoneridge has a fifty-two week low of $4.11 and a fifty-two week 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 announced its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS 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 net margin of 0.81% and a negative return on equity of 0.42%. On average, equities research analysts anticipate that Stoneridge will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

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

About Stoneridge

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.