StockNews.com Downgrades Stoneridge (NYSE:SRI) to Hold

StockNews.com downgraded shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research report released on Wednesday morning.

Separately, Barrington Research restated an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research note on Thursday, October 31st.

Stoneridge Stock Performance

Shares of SRI stock opened at $6.62 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $9.22 and a 200 day moving average of $13.16. The firm has a market capitalization of $183.31 million, a price-to-earnings ratio of -24.52 and a beta of 1.36. Stoneridge has a 52 week low of $5.89 and a 52 week high of $19.91.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The company had revenue of $213.80 million for the quarter, compared to the consensus estimate of $229.60 million. During the same period in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, research analysts expect that Stoneridge will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Stoneridge in the third quarter worth $146,000. Barclays PLC raised its position in shares of Stoneridge by 51.3% in the 3rd quarter. Barclays PLC now owns 65,044 shares of the auto parts company’s stock worth $727,000 after purchasing an additional 22,052 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Stoneridge by 3.0% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 247,196 shares of the auto parts company’s stock worth $2,766,000 after purchasing an additional 7,267 shares in the last quarter. XTX Topco Ltd grew 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 last quarter. Finally, Jane Street Group LLC raised its holdings in Stoneridge by 218.3% in the third quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company’s stock worth $780,000 after buying an additional 47,829 shares during the last quarter. 98.07% of the stock is 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.