Stoneridge (NYSE:SRI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a report published on Friday morning.

Separately, Barrington Research reiterated an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research report on Monday, February 24th.

Stoneridge Trading Up 11.4 %

NYSE SRI opened at $5.65 on Friday. Stoneridge has a one year low of $4.11 and a one year high of $18.57. The company has a 50-day simple moving average of $5.25 and a 200-day simple moving average of $8.18. 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 firm has a market capitalization of $156.33 million, a PE ratio of -20.91 and a beta of 1.34.

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 the consensus estimate of $0.18 by ($0.36). The firm 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%. On average, equities analysts forecast that Stoneridge will post -0.42 earnings per share for the current year.

Institutional Trading of Stoneridge

Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in shares of Stoneridge by 119.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,324 shares of the auto parts company’s stock worth $247,000 after buying an additional 21,388 shares in the last quarter. PharVision Advisers LLC bought a new stake in shares of Stoneridge during the 4th quarter worth about $392,000. Squarepoint Ops LLC raised its position in shares of Stoneridge by 244.5% during the 4th quarter. Squarepoint Ops LLC now owns 44,071 shares of the auto parts company’s stock worth $276,000 after buying an additional 31,278 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Stoneridge during the 4th quarter worth about $165,000. Finally, Two Sigma Investments LP bought a new stake in shares of Stoneridge during the 4th quarter worth about $698,000. 98.07% of the stock is currently owned by 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.