Stoneridge (NYSE:SRI) Downgraded to Hold at StockNews.com

Stoneridge (NYSE:SRI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Stoneridge Stock Performance

Shares of Stoneridge stock opened at $15.96 on Thursday. The firm has a market capitalization of $441.61 million, a P/E ratio of -113.99 and a beta of 1.39. Stoneridge has a 52 week low of $14.63 and a 52 week high of $24.51. The company has a quick ratio of 1.40, a current ratio of 2.39 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $15.81 and its two-hundred day moving average is $17.10.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, May 1st. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $239.20 million for the quarter, compared to analysts’ expectations of $223.20 million. Stoneridge had a positive return on equity of 0.84% and a negative net margin of 0.41%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted ($0.25) earnings per share. Research analysts forecast that Stoneridge will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling at Stoneridge

In other news, CEO James Zizelman purchased 6,500 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average price of $15.72 per share, with a total value of $102,180.00. Following the purchase, the chief executive officer now directly owns 6,500 shares of the company’s stock, valued at approximately $102,180. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its position in Stoneridge by 7.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 16,681 shares of the auto parts company’s stock worth $326,000 after purchasing an additional 1,132 shares in the last quarter. AJOVista LLC acquired a new stake in Stoneridge during the 4th quarter worth approximately $42,000. Los Angeles Capital Management LLC increased its position in Stoneridge by 19.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 15,242 shares of the auto parts company’s stock worth $298,000 after purchasing an additional 2,510 shares in the last quarter. BNP Paribas Financial Markets increased its position in Stoneridge by 28.0% during the 1st quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock worth $241,000 after purchasing an additional 2,861 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new stake in Stoneridge during the 4th quarter worth approximately $76,000. 98.07% of the stock is currently owned by hedge funds and other 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.