Barrington Research Reiterates “Outperform” Rating for Stoneridge (NYSE:SRI)

Barrington Research reissued their outperform rating on shares of Stoneridge (NYSE:SRI) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $16.00 price objective on the auto parts company’s stock.

Separately, StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research report on Friday, February 28th.

Stoneridge Stock Down 9.1 %

SRI opened at $5.38 on Tuesday. The firm has a market cap of $148.82 million, a P/E ratio of -19.91 and a beta of 1.34. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The business has a 50 day moving average price of $5.20 and a 200 day moving average price of $7.95. Stoneridge has a twelve month low of $4.11 and a twelve month high of $18.57.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm had revenue of $218.20 million during the quarter, compared to analyst estimates of $207.61 million. Research analysts forecast that Stoneridge will post -0.42 EPS for the current year.

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently modified their holdings of the business. Federated Hermes Inc. bought a new position in Stoneridge during the fourth quarter worth $25,000. US Bancorp DE increased its holdings 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 during the period. Quarry LP acquired a new position in shares of Stoneridge during the third quarter valued at about $44,000. Quantinno Capital Management LP acquired a new position in shares of Stoneridge during the fourth quarter valued at about $63,000. Finally, SG Americas Securities LLC bought a new stake in shares of Stoneridge in the fourth quarter valued at about $74,000. 98.07% of the stock is 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.