Zacks Investment Research upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a research report report published on Saturday. The brokerage currently has $27.00 price objective on the auto parts company’s stock.

According to Zacks, “Stoneridge Inc. is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. Their products interface with a vehicle’s mechanical and electrical systems to activate equipment and accessories, display and monitor vehicle performance, and control and distribute electrical power and signals. “

A number of other research firms have also weighed in on SRI. ValuEngine raised shares of Stoneridge from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. B. Riley reaffirmed a neutral rating on shares of Stoneridge in a research note on Friday, November 3rd. Finally, KeyCorp reaffirmed a hold rating on shares of Stoneridge in a research note on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Stoneridge has a consensus rating of Hold and a consensus price target of $24.50.

Shares of Stoneridge (SRI) traded down $0.05 during midday trading on Friday, reaching $24.12. 130,336 shares of the company traded hands, compared to its average volume of 238,514. The company has a market capitalization of $679.48, a price-to-earnings ratio of 9.21 and a beta of 1.45. Stoneridge has a fifty-two week low of $14.16 and a fifty-two week high of $25.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.24.

Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The firm had revenue of $203.60 million for the quarter, compared to analyst estimates of $192.80 million. During the same period last year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. equities analysts anticipate that Stoneridge will post 1.5 EPS for the current year.

In other Stoneridge news, VP Thomas A. Beaver sold 49,779 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $21.51, for a total value of $1,070,746.29. Following the transaction, the vice president now directly owns 76,529 shares of the company’s stock, valued at $1,646,138.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its position in shares of Stoneridge by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 112,389 shares of the auto parts company’s stock valued at $1,732,000 after purchasing an additional 627 shares in the last quarter. Horizon Investment Services LLC lifted its position in shares of Stoneridge by 0.6% during the second quarter. Horizon Investment Services LLC now owns 110,869 shares of the auto parts company’s stock valued at $1,708,000 after purchasing an additional 713 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Stoneridge by 12.7% during the second quarter. Voya Investment Management LLC now owns 16,416 shares of the auto parts company’s stock valued at $253,000 after purchasing an additional 1,851 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Stoneridge by 6.9% during the second quarter. Rhumbline Advisers now owns 38,406 shares of the auto parts company’s stock valued at $592,000 after purchasing an additional 2,475 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its position in shares of Stoneridge by 7.8% during the second quarter. Federated Investors Inc. PA now owns 61,833 shares of the auto parts company’s stock valued at $953,000 after purchasing an additional 4,474 shares in the last quarter. 86.98% of the stock is currently owned by institutional investors.

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Stoneridge Company Profile

Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.

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