Stoneridge (NYSE:SRI) Earns Overweight Rating from Analysts at Stephens

Stephens initiated coverage on shares of Stoneridge (NYSE:SRIFree Report) in a research note released on Monday, MarketBeat reports. The firm issued an overweight rating on the auto parts company’s stock.

Separately, StockNews.com upgraded shares of Stoneridge from a hold rating to a buy rating in a research report on Friday, July 5th.

Read Our Latest Stock Analysis on Stoneridge

Stoneridge Stock Performance

NYSE SRI opened at $14.39 on Monday. Stoneridge has a 1 year low of $13.95 and a 1 year high of $24.51. The company has a current ratio of 2.39, a quick ratio of 1.40 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $398.17 million, a price-to-earnings ratio of -102.78 and a beta of 1.33. The firm’s 50 day simple moving average is $15.73 and its 200 day simple moving average is $16.89.

Stoneridge (NYSE:SRIGet Free Report) last issued its earnings results on Wednesday, May 1st. The auto parts company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). Stoneridge had a negative net margin of 0.41% and a positive return on equity of 0.84%. The company had revenue of $239.20 million during the quarter, compared to analyst estimates of $223.20 million. During the same quarter in the prior year, the business earned ($0.25) EPS. The business’s quarterly revenue was down .9% on a year-over-year basis.

Insider Buying and Selling at Stoneridge

In other Stoneridge news, CEO James Zizelman purchased 6,500 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were bought at an average price of $15.72 per share, for a total transaction of $102,180.00. Following the completion of the acquisition, the chief executive officer now owns 6,500 shares in the company, valued at $102,180. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Stoneridge

A number of hedge funds have recently modified their holdings of the business. AJOVista LLC bought a new position in Stoneridge during the fourth quarter worth $42,000. Gladius Capital Management LP bought a new position in Stoneridge during the fourth quarter worth $76,000. State Board of Administration of Florida Retirement System bought a new position in Stoneridge during the first quarter worth $238,000. BNP Paribas Financial Markets raised its stake in Stoneridge by 28.0% during the first quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock worth $241,000 after buying an additional 2,861 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Stoneridge by 19.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 15,242 shares of the auto parts company’s stock worth $298,000 after buying an additional 2,510 shares during the last quarter. Institutional investors and hedge funds own 98.07% of the company’s stock.

About Stoneridge

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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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