StockNews.com Downgrades Stoneridge (NYSE:SRI) to Hold

StockNews.com lowered 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 restated an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a report on Tuesday, March 4th.

Stoneridge Trading Down 3.5 %

SRI opened at $5.17 on Friday. The stock has a market cap of $143.04 million, a PE ratio of -19.13 and a beta of 1.27. The business has a 50 day moving average of $5.16 and a 200-day moving average of $7.75. 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.

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

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently added to or reduced their stakes in SRI. Thrivent Financial for Lutherans raised its position in shares of Stoneridge by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,035,643 shares of the auto parts company’s stock worth $33,969,000 after purchasing an additional 24,548 shares during the last quarter. Cooper Creek Partners Management LLC increased its stake in Stoneridge by 0.7% during the 4th quarter. Cooper Creek Partners Management LLC now owns 1,442,314 shares of the auto parts company’s stock valued at $9,043,000 after purchasing an additional 9,829 shares in the last quarter. Royce & Associates LP raised 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 worth $15,185,000 after buying an additional 148,461 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. raised its holdings in Stoneridge by 1.4% in the fourth quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,224,273 shares of the auto parts company’s stock worth $7,676,000 after buying an additional 16,833 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Stoneridge by 440.8% in the fourth quarter. Millennium Management LLC now owns 926,540 shares of the auto parts company’s stock worth $5,809,000 after buying an additional 755,223 shares in the last quarter. 98.07% of the stock is owned by 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.