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

Stoneridge (NYSE:SRI)‘s stock had its “outperform” rating restated by stock analysts at Barrington Research in a note issued to investors on Thursday, Benzinga reports. They currently have a $16.00 price objective on the auto parts company’s stock. Barrington Research’s target price would suggest a potential upside of 132.22% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Stephens started coverage on Stoneridge in a research note on Monday, July 8th. They set an “overweight” rating for the company. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th.

Stoneridge Price Performance

Shares of NYSE:SRI opened at $6.89 on Thursday. The business’s fifty day moving average price is $11.15 and its two-hundred day moving average price is $14.05. Stoneridge has a one year low of $6.76 and a one year high of $19.91. The stock has a market cap of $190.72 million, a PE ratio of -25.52 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.31 and a current ratio of 2.27.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.32). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The company had revenue of $213.80 million for the quarter, compared to analyst estimates of $229.60 million. During the same period last year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, analysts forecast that Stoneridge will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE bought a new stake in Stoneridge in the 3rd quarter valued at $46,000. nVerses Capital LLC acquired a new stake in shares of Stoneridge in the third quarter valued at approximately $59,000. Olympiad Research LP bought a new position in Stoneridge in the third quarter valued at about $121,000. XTX Topco Ltd bought a new position in Stoneridge in the second quarter valued at approximately $176,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Stoneridge by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after buying an additional 1,226 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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.