Stoneridge (NYSE:SRI) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a research note published on Tuesday morning.

Separately, Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research note on Thursday, May 1st.

Stoneridge Price Performance

Shares of NYSE SRI opened at $4.96 on Tuesday. The stock’s 50-day simple moving average is $4.42 and its 200-day simple moving average is $5.39. The firm has a market capitalization of $138.11 million, a PE ratio of -18.37 and a beta of 1.22. Stoneridge has a fifty-two week low of $3.54 and a fifty-two week high of $18.40. 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 (NYSE:SRI) last issued its earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The company had revenue of $217.89 million during the quarter, compared to analyst estimates of $212.42 million. As a group, equities research analysts forecast that Stoneridge will post -0.42 EPS for the current fiscal year.

Institutional Trading of Stoneridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC grew its stake in shares of Stoneridge by 369.9% in the 4th quarter. Walleye Capital LLC now owns 202,905 shares of the auto parts company’s stock valued at $1,272,000 after purchasing an additional 159,727 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Stoneridge by 296.0% during the third quarter. JPMorgan Chase & Co. now owns 56,696 shares of the auto parts company’s stock worth $634,000 after purchasing an additional 42,379 shares during the period. Barclays PLC grew its position in Stoneridge by 51.3% in the 3rd quarter. Barclays PLC now owns 65,044 shares of the auto parts company’s stock valued at $727,000 after buying an additional 22,052 shares during the last quarter. Amundi purchased a new position in Stoneridge in the 4th quarter valued at $134,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Stoneridge by 246.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,909 shares of the auto parts company’s stock valued at $313,000 after buying an additional 35,500 shares during the period. 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.