Stoneridge (NYSE:SRI) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Stoneridge (NYSE:SRI) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

SRI has been the subject of a number of other reports. Wall Street Zen lowered Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a research note on Friday, March 27th. Finally, Barrington Research lowered Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Sell” and a consensus target price of $16.00.

Stoneridge Stock Performance

Shares of NYSE:SRI opened at $7.82 on Wednesday. Stoneridge has a twelve month low of $4.60 and a twelve month high of $9.71. The firm has a market cap of $220.81 million, a PE ratio of -1.77 and a beta of 1.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.02. The business has a fifty day moving average of $6.30 and a 200-day moving average of $6.49.

Stoneridge (NYSE:SRI) last announced its earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.76). Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%. The business had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. On average, equities research analysts predict that Stoneridge will post -0.74 EPS for the current fiscal year.

Institutional Trading of Stoneridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Stoneridge in the first quarter worth about $39,000. Quadrature Capital Ltd acquired a new stake in Stoneridge in the fourth quarter worth about $61,000. NewEdge Advisors LLC acquired a new stake in Stoneridge in the fourth quarter worth about $62,000. WINTON GROUP Ltd acquired a new stake in Stoneridge in the fourth quarter worth about $69,000. Finally, Jain Global LLC acquired a new stake in Stoneridge in the fourth quarter worth about $77,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.