Stoneridge (NYSE:SRI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a research note published on Tuesday morning.

Separately, Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research report on Thursday, May 1st.

Stoneridge Trading Up 2.0%

Shares of SRI opened at $5.14 on Tuesday. Stoneridge has a 1-year low of $3.54 and a 1-year high of $18.40. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $4.44 and its 200-day moving average price is $5.43. The firm has a market capitalization of $143.12 million, a price-to-earnings ratio of -19.04 and a beta of 1.22.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The firm had revenue of $217.89 million for the quarter, compared to the consensus estimate of $212.42 million. Sell-side analysts anticipate that Stoneridge will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Stoneridge

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in shares of Stoneridge in the 4th quarter worth approximately $25,000. GAMMA Investing LLC boosted its holdings in Stoneridge by 2,684.5% in the first quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company’s stock worth $29,000 after acquiring an additional 6,067 shares in the last quarter. US Bancorp DE grew its stake in shares of Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after acquiring an additional 2,679 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of Stoneridge during the fourth quarter valued at $63,000. Finally, SG Americas Securities LLC purchased a new position in shares of Stoneridge in the 4th quarter worth about $74,000. 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.