Stoneridge (NYSE:SRI) Now Covered by Analysts at Stephens

Stephens started coverage on shares of Stoneridge (NYSE:SRI) in a report published on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating on the auto parts company’s stock.

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

Stoneridge Trading Up 11.7 %

SRI opened at $16.08 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 company has a market cap of $444.80 million, a P/E ratio of -114.81 and a beta of 1.33. The company has a fifty day moving average price of $15.76 and a two-hundred day moving average price of $16.88.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, May 1st. The auto parts company reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $223.20 million. During the same period last year, the firm posted ($0.25) earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis.

Insider Transactions at Stoneridge

In other Stoneridge news, CEO James Zizelman bought 6,500 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $15.72 per share, with a total value of $102,180.00. Following the completion of the transaction, the chief executive officer now directly owns 6,500 shares in the company, valued at approximately $102,180. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in Stoneridge by 4.4% during the fourth quarter. Russell Investments Group Ltd. now owns 279,041 shares of the auto parts company’s stock worth $5,461,000 after purchasing an additional 11,716 shares during the last quarter. Ranger Investment Management L.P. boosted its holdings in Stoneridge by 35.1% during the fourth quarter. Ranger Investment Management L.P. now owns 373,180 shares of the auto parts company’s stock worth $7,303,000 after purchasing an additional 97,051 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Stoneridge by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 440,942 shares of the auto parts company’s stock worth $8,629,000 after purchasing an additional 25,357 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings 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 purchasing an additional 2,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Stoneridge by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,531,421 shares of the auto parts company’s stock worth $29,970,000 after purchasing an additional 61,849 shares during the last quarter. 98.07% of the stock is currently 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.