Stoneridge (NYSE:SRI) Cut to Hold at StockNews.com

StockNews.com cut shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Stoneridge Trading Up 1.3 %

SRI opened at $15.96 on Thursday. The stock has a market cap of $441.61 million, a price-to-earnings ratio of -113.99 and a beta of 1.39. The stock’s 50 day moving average price is $15.81 and its 200-day moving average price is $17.09. Stoneridge has a one year low of $14.63 and a one year high of $24.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.40 and a current ratio of 2.39.

Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, May 1st. The auto parts company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $239.20 million for the quarter, compared to the consensus estimate of $223.20 million. Stoneridge had a negative net margin of 0.41% and a positive return on equity of 0.84%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.25) EPS. On average, equities analysts forecast that Stoneridge will post 0.11 EPS for the current year.

Insider Buying and Selling

In other news, CEO James Zizelman acquired 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $15.72 per share, with a total value of $102,180.00. Following the completion of the purchase, the chief executive officer now directly owns 6,500 shares in the company, valued at $102,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank boosted its position in Stoneridge by 58,158.3% during the 1st quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock valued at $773,000 after acquiring an additional 41,874 shares in the last quarter. Vanguard Group Inc. boosted its position in Stoneridge by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,523,025 shares of the auto parts company’s stock valued at $28,085,000 after acquiring an additional 44,600 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Stoneridge during the 1st quarter valued at $238,000. BNP Paribas Financial Markets boosted its position in Stoneridge by 28.0% during the 1st quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock valued at $241,000 after acquiring an additional 2,861 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in Stoneridge by 2.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,197,542 shares of the auto parts company’s stock valued at $43,006,000 after acquiring an additional 43,602 shares in the last quarter. Institutional investors own 98.07% of the company’s stock.

Stoneridge Company Profile

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.