Stoneridge (NYSE:SRI) Releases Earnings Results, Misses Expectations By $0.55 EPS

Stoneridge (NYSE:SRI) posted its quarterly earnings data on Wednesday. The auto parts company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.55), FiscalAI reports. Stoneridge had a negative return on equity of 8.78% and a negative net margin of 3.66%.The firm had revenue of $205.15 million for the quarter, compared to analyst estimates of $211.70 million.

Stoneridge Stock Down 27.7%

Shares of SRI stock traded down $2.12 on Thursday, reaching $5.54. 275,129 shares of the company were exchanged, compared to its average volume of 177,671. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.13 and a quick ratio of 1.33. The company has a 50-day moving average of $7.26 and a 200-day moving average of $6.98. The company has a market cap of $155.29 million, a price-to-earnings ratio of -4.79 and a beta of 1.45. Stoneridge has a one year low of $3.54 and a one year high of $9.71.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRI. Arrowstreet Capital Limited Partnership boosted its holdings in Stoneridge by 285.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock worth $3,948,000 after acquiring an additional 383,805 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Stoneridge by 213.7% during the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after acquiring an additional 363,407 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Stoneridge by 50.0% during the fourth quarter. Russell Investments Group Ltd. now owns 575,670 shares of the auto parts company’s stock valued at $3,333,000 after acquiring an additional 191,953 shares in the last quarter. Marshall Wace LLP raised its position in shares of Stoneridge by 186.7% during the second quarter. Marshall Wace LLP now owns 293,987 shares of the auto parts company’s stock worth $2,070,000 after purchasing an additional 191,444 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Stoneridge by 55.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock worth $2,250,000 after purchasing an additional 175,736 shares in the last quarter. 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.