Stoneridge (NYSE:SRI) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Stoneridge (NYSE:SRI) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $16.00.

Stoneridge Stock Up 0.8%

NYSE:SRI opened at $7.43 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00. Stoneridge has a twelve month low of $4.60 and a twelve month high of $9.71. The company has a market cap of $209.82 million, a PE ratio of -1.68 and a beta of 1.85. The company’s 50 day moving average is $7.25 and its two-hundred day moving average is $6.89.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.76). Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%.The company had revenue of $160.85 million during the quarter, compared to analysts’ expectations of $139.00 million. Analysts anticipate that Stoneridge will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other news, Director William M. Lasky acquired 5,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $7.46 per share, for a total transaction of $37,300.00. Following the completion of the transaction, the director owned 192,666 shares in the company, valued at approximately $1,437,288.36. The trade was a 2.66% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira C. Kaplan bought 5,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average price of $7.54 per share, for a total transaction of $37,700.00. Following the completion of the transaction, the director directly owned 100,046 shares in the company, valued at approximately $754,346.84. This trade represents a 5.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 11.00% of the stock is currently owned by insiders.

Institutional Trading of Stoneridge

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of Stoneridge by 113.3% in the first quarter. Bank of America Corp DE now owns 68,896 shares of the auto parts company’s stock valued at $333,000 after buying an additional 36,590 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Stoneridge by 174.2% during the 1st quarter. Empowered Funds LLC now owns 61,880 shares of the auto parts company’s stock worth $299,000 after buying an additional 39,315 shares during the period. Sei Investments Co. lifted its position in shares of Stoneridge by 45.6% during the 1st quarter. Sei Investments Co. now owns 31,090 shares of the auto parts company’s stock valued at $150,000 after buying an additional 9,732 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Stoneridge during the 1st quarter valued at approximately $90,000. Finally, Villere ST Denis J & Co. LLC grew its stake in Stoneridge by 100.0% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 30,000 shares of the auto parts company’s stock valued at $145,000 after acquiring an additional 15,000 shares during the period. 98.07% of the stock is owned by institutional investors and hedge funds.

Stoneridge Company Profile

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.