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

Stoneridge (NYSE:SRI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on SRI. Barrington Research cut shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Wall Street Zen cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Sell” and an average target price of $16.00.

Stoneridge Stock Performance

Shares of NYSE SRI opened at $7.82 on Wednesday. The stock has a market cap of $220.81 million, a price-to-earnings ratio of -1.77 and a beta of 1.85. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00. Stoneridge has a 1-year low of $4.60 and a 1-year high of $9.71. The stock’s 50-day moving average is $6.30 and its 200 day moving average is $6.49.

Stoneridge (NYSE:SRI) last issued its earnings results on Thursday, May 7th. The auto parts company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.76). The business had revenue of $160.85 million during the quarter, compared to analysts’ expectations of $139.00 million. Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%. On average, sell-side analysts anticipate that Stoneridge will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Stoneridge

Hedge funds have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of Stoneridge during the first quarter valued at approximately $39,000. Quadrature Capital Ltd purchased a new position in shares of Stoneridge during the fourth quarter valued at approximately $61,000. NewEdge Advisors LLC purchased a new position in shares of Stoneridge during the fourth quarter valued at approximately $62,000. WINTON GROUP Ltd purchased a new position in shares of Stoneridge during the fourth quarter valued at about $69,000. Finally, Jain Global LLC purchased a new position in shares of Stoneridge during the fourth quarter valued at about $77,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

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.