Stoneridge (NYSE:SRI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Stoneridge Inc. is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. Their products interface with a vehicle’s mechanical and electrical systems to activate equipment and accessories, display and monitor vehicle performance, and control and distribute electrical power and signals. “

Several other research analysts have also weighed in on SRI. ValuEngine lowered Stoneridge from a buy rating to a hold rating in a research report on Wednesday, September 25th. Barrington Research reissued a buy rating and set a $35.00 price target on shares of Stoneridge in a research report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $33.80.

Shares of Stoneridge stock traded down $0.04 on Tuesday, reaching $30.79. 122,541 shares of the company were exchanged, compared to its average volume of 226,443. The firm has a market capitalization of $835.68 million, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.27. Stoneridge has a fifty-two week low of $21.91 and a fifty-two week high of $34.46. The company has a current ratio of 2.06, a quick ratio of 1.42 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $31.33 and a 200-day moving average price of $30.65.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $203.39 million for the quarter, compared to analyst estimates of $203.21 million. Stoneridge had a return on equity of 16.59% and a net margin of 7.97%. Stoneridge’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. On average, equities analysts anticipate that Stoneridge will post 1.55 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its position in Stoneridge by 279.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,267 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 1,669 shares during the last quarter. First Mercantile Trust Co. acquired a new position in Stoneridge in the 2nd quarter worth about $109,000. Tower Research Capital LLC TRC acquired a new position in Stoneridge in the 2nd quarter worth about $173,000. Zebra Capital Management LLC acquired a new position in Stoneridge in the 2nd quarter worth about $214,000. Finally, Prudential Financial Inc. acquired a new position in Stoneridge in the 2nd quarter worth about $230,000.

Stoneridge Company Profile

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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