Stoneridge (NYSE:SRI) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Separately, Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research note on Tuesday, March 4th.

Stoneridge Stock Performance

Stoneridge stock opened at $5.17 on Friday. The firm has a fifty day simple moving average of $5.16 and a two-hundred day simple moving average of $7.75. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. Stoneridge has a twelve month low of $4.11 and a twelve month high of $18.57. The company has a market capitalization of $143.04 million, a PE ratio of -19.13 and a beta of 1.27.

Stoneridge (NYSE:SRI) last released its earnings results 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). The company had revenue of $218.20 million during the quarter, compared to the consensus estimate of $207.61 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. Research analysts expect that Stoneridge will post -0.42 EPS for the current year.

Institutional Trading of Stoneridge

A number of institutional investors have recently modified their holdings of SRI. Rhumbline Advisers raised its position in Stoneridge by 4.9% during the 4th quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock valued at $304,000 after purchasing an additional 2,274 shares during the last quarter. Geode Capital Management LLC lifted its stake in Stoneridge by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock worth $3,882,000 after acquiring an additional 2,543 shares during the period. US Bancorp DE boosted its holdings in Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after acquiring an additional 2,679 shares in the last quarter. XTX Topco Ltd increased its position in Stoneridge by 25.7% during the 3rd quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock valued at $155,000 after purchasing an additional 2,833 shares during the period. Finally, Wells Fargo & Company MN increased its position in Stoneridge by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 3,490 shares during the period. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

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.