Barrington Research Reiterates Outperform Rating for Stoneridge (NYSE:SRI)

Stoneridge (NYSE:SRI)‘s stock had its “outperform” rating reissued by Barrington Research in a report issued on Monday,Benzinga reports. They currently have a $16.00 target price on the auto parts company’s stock. Barrington Research’s target price would suggest a potential upside of 135.81% from the company’s current price.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Stoneridge in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.00.

Stoneridge Price Performance

Shares of NYSE:SRI opened at $6.79 on Monday. The company has a market capitalization of $190.02 million, a P/E ratio of -6.28 and a beta of 1.47. The company’s 50-day moving average is $7.64 and its 200 day moving average is $6.72. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 2.14. Stoneridge has a fifty-two week low of $3.54 and a fifty-two week high of $9.10.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, August 6th. The auto parts company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Stoneridge had a negative return on equity of 9.24% and a negative net margin of 3.39%.The company had revenue of $227.95 million during the quarter, compared to the consensus estimate of $219.90 million. On average, equities research analysts forecast that Stoneridge will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. 22NW LP lifted its holdings in shares of Stoneridge by 19.4% in the second quarter. 22NW LP now owns 1,943,508 shares of the auto parts company’s stock worth $13,682,000 after buying an additional 315,855 shares in the last quarter. Federated Hermes Inc. lifted its stake in Stoneridge by 50.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,062,490 shares of the auto parts company’s stock worth $7,480,000 after purchasing an additional 356,143 shares in the last quarter. Millennium Management LLC boosted its holdings in Stoneridge by 3.0% in the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after purchasing an additional 28,037 shares during the period. Acadian Asset Management LLC boosted its holdings in Stoneridge by 26.6% in the 2nd quarter. Acadian Asset Management LLC now owns 751,764 shares of the auto parts company’s stock valued at $5,285,000 after purchasing an additional 158,147 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Stoneridge by 29.7% during the 2nd quarter. AQR Capital Management LLC now owns 691,962 shares of the auto parts company’s stock valued at $4,871,000 after purchasing an additional 158,492 shares in the last quarter. Hedge funds and other 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.