Stoneridge (NYSE:SRI) Upgraded at StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a report published on Saturday.

Separately, Barrington Research reiterated an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a research report on Tuesday, March 4th.

Stoneridge Price Performance

Shares of SRI stock opened at $4.62 on Friday. The firm’s 50 day moving average price is $4.93 and its two-hundred day moving average price is $6.86. 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 has a 52-week low of $4.11 and a 52-week high of $18.57. The stock has a market cap of $127.81 million, a PE ratio of -17.09 and a beta of 1.27.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.36). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The company had revenue of $218.20 million during the quarter, compared to the consensus estimate of $207.61 million. As a group, analysts forecast that Stoneridge will post -0.42 EPS for the current year.

Institutional Investors Weigh In On Stoneridge

Several large investors have recently made changes to their positions in SRI. Rhumbline Advisers boosted its stake in Stoneridge by 4.9% in the 4th quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock worth $304,000 after purchasing an additional 2,274 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Stoneridge by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock valued at $3,882,000 after purchasing an additional 2,543 shares in the last quarter. US Bancorp DE boosted its position in shares of Stoneridge by 65.2% during the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after buying an additional 2,679 shares during the period. XTX Topco Ltd grew its holdings in shares of Stoneridge by 25.7% during the third quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock worth $155,000 after buying an additional 2,833 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Stoneridge by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock valued at $100,000 after buying an additional 3,490 shares during the last quarter. Institutional investors own 98.07% of the company’s stock.

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.