Stoneridge (NYSE:SRI) Stock Rating Upgraded by StockNews.com

Stoneridge (NYSE:SRI) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Separately, Stephens started coverage on shares of Stoneridge in a research report on Monday, July 8th. They set an “overweight” rating for the company.

Stoneridge Stock Up 1.9 %

Shares of SRI opened at $13.90 on Wednesday. The company has a 50-day simple moving average of $15.63 and a 200-day simple moving average of $16.46. The firm has a market capitalization of $384.63 million, a P/E ratio of -99.29 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.31 and a current ratio of 2.27. Stoneridge has a 52 week low of $13.44 and a 52 week high of $22.32.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.19. The business had revenue of $237.10 million during the quarter, compared to analyst estimates of $242.90 million. Stoneridge had a net margin of 0.19% and a return on equity of 3.03%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. On average, equities research analysts expect that Stoneridge will post 0.23 earnings per share for the current year.

Institutional Trading of Stoneridge

Hedge funds have recently modified their holdings of the company. AJOVista LLC acquired a new stake in shares of Stoneridge during the fourth quarter worth approximately $42,000. Gladius Capital Management LP acquired a new stake in shares of Stoneridge during the fourth quarter worth approximately $76,000. XTX Topco Ltd acquired a new stake in shares of Stoneridge during the second quarter worth approximately $176,000. The Manufacturers Life Insurance Company increased its holdings in shares of Stoneridge by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after buying an additional 1,226 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Stoneridge during the first quarter worth approximately $238,000. Institutional investors and hedge funds 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.