Stoneridge (NYSE:SRI) Upgraded at StockNews.com

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

Separately, Barrington Research restated an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research report on Thursday, October 31st.

Stoneridge Trading Down 4.3 %

Shares of SRI traded down $0.32 during mid-day trading on Tuesday, reaching $7.20. The stock had a trading volume of 383,456 shares, compared to its average volume of 162,892. Stoneridge has a 52-week low of $6.76 and a 52-week high of $19.91. The firm has a market cap of $199.35 million, a price-to-earnings ratio of -26.67 and a beta of 1.36. The business’s fifty day moving average is $10.32 and its 200 day moving average is $13.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.32). The firm had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $229.60 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. On average, sell-side analysts predict that Stoneridge will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE acquired a new stake in Stoneridge in the 3rd quarter valued at approximately $46,000. nVerses Capital LLC acquired a new stake in shares of Stoneridge in the third quarter valued at $59,000. Olympiad Research LP acquired a new stake in shares of Stoneridge in the third quarter valued at $121,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Stoneridge during the 3rd quarter worth about $161,000. Finally, Quest Partners LLC lifted its stake in Stoneridge by 95,350.0% during the 3rd quarter. Quest Partners LLC now owns 15,272 shares of the auto parts company’s stock worth $171,000 after acquiring an additional 15,256 shares in the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

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.