Stoneridge (NYSE:SRI) Stock Rating Upgraded by Zacks Research

Stoneridge (NYSE:SRI) was upgraded by stock analysts at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on SRI. Wall Street Zen raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Barrington Research cut shares of Stoneridge from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $16.00.

Stoneridge Price Performance

Shares of NYSE SRI opened at $5.59 on Wednesday. The stock’s 50-day simple moving average is $7.23 and its two-hundred day simple moving average is $6.87. Stoneridge has a twelve month low of $3.54 and a twelve month high of $9.71. The firm has a market capitalization of $156.59 million, a P/E ratio of -1.51 and a beta of 1.45. The company has a quick ratio of 1.33, a current ratio of 2.30 and a debt-to-equity ratio of 1.01.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, March 11th. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.55). The business had revenue of $205.15 million for the quarter, compared to the consensus estimate of $211.70 million. Stoneridge had a negative net margin of 11.94% and a negative return on equity of 13.49%. As a group, equities analysts anticipate that Stoneridge will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Stoneridge

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 22NW LP grew its position in Stoneridge by 4.1% in the 4th quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock valued at $12,696,000 after acquiring an additional 87,164 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Stoneridge by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock valued at $11,540,000 after purchasing an additional 51,263 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Stoneridge by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock valued at $6,430,000 after purchasing an additional 47,135 shares in the last quarter. AYAL Capital Advisors Ltd increased its holdings in Stoneridge by 2.1% during the fourth quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock valued at $6,305,000 after buying an additional 22,330 shares during the period. Finally, Millennium Management LLC raised its stake in Stoneridge by 3.0% in the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock worth $4,382,000 after buying an additional 28,037 shares in the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.