Zacks Research Upgrades Stoneridge (NYSE:SRI) to Hold

Stoneridge (NYSE:SRI) was upgraded by research analysts at Zacks Research to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Barrington Research cut shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $16.00.

Stoneridge Trading Down 0.1%

Shares of SRI stock opened at $5.48 on Wednesday. Stoneridge has a 1-year low of $3.54 and a 1-year high of $9.71. The company has a current ratio of 2.30, a quick ratio of 1.33 and a debt-to-equity ratio of 1.01. The stock has a market cap of $153.39 million, a price-to-earnings ratio of -1.48 and a beta of 1.45. The stock has a 50-day moving average of $7.23 and a 200-day moving average of $6.87.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, March 11th. The auto parts company reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.55). Stoneridge had a negative net margin of 11.94% and a negative return on equity of 13.49%. The company had revenue of $205.15 million during the quarter, compared to the consensus estimate of $211.70 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 large investors have recently added to or reduced their stakes in the stock. 22NW LP grew its position in Stoneridge by 4.1% in the fourth quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock worth $12,696,000 after acquiring an additional 87,164 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Stoneridge by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock valued at $11,540,000 after buying an additional 51,263 shares during the period. Federated Hermes Inc. raised its stake in Stoneridge by 4.4% during the 4th quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock valued at $6,430,000 after acquiring an additional 47,135 shares during the last quarter. AYAL Capital Advisors Ltd lifted its holdings in shares of Stoneridge by 2.1% in the fourth quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock valued at $6,305,000 after purchasing an additional 22,330 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Stoneridge by 3.0% in the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after buying an additional 28,037 shares during the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Stoneridge Company Profile

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.