Barrington Research Reaffirms Outperform Rating for Stoneridge (NYSE:SRI)

Stoneridge (NYSE:SRI)‘s stock had its “outperform” rating restated by equities researchers at Barrington Research in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $16.00 price objective on the auto parts company’s stock. Barrington Research’s price target points to a potential upside of 281.41% from the company’s previous close.

Separately, StockNews.com cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

Stoneridge Trading Down 5.7 %

Shares of Stoneridge stock opened at $4.20 on Monday. Stoneridge has a 52-week low of $4.11 and a 52-week high of $18.85. The firm has a market capitalization of $116.15 million, a PE ratio of -15.54 and a beta of 1.34. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The company’s fifty day moving average price is $5.38 and its two-hundred day moving average price is $8.42.

Institutional Trading of Stoneridge

A number of large investors have recently bought and sold shares of the stock. Federated Hermes Inc. bought a new position in shares of Stoneridge during the fourth quarter valued at $25,000. US Bancorp DE increased its position in shares of Stoneridge by 65.2% during the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 2,679 shares in the last quarter. Quarry LP bought a new position in Stoneridge during the 3rd quarter valued at about $44,000. Quantinno Capital Management LP acquired a new position in Stoneridge in the fourth quarter valued at about $63,000. Finally, SG Americas Securities LLC bought a new stake in Stoneridge during the fourth quarter worth about $74,000. 98.07% of the stock is currently owned by institutional investors.

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.