Stoneridge (SRI) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Stoneridge (NYSE:SRI) from a sell rating to a hold rating in a report published on Wednesday morning.
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. “
Other research analysts have also recently issued research reports about the stock. Barrington Research reiterated a buy rating and set a $35.00 price target on shares of Stoneridge in a research note on Wednesday, January 23rd. Stephens reiterated a buy rating and set a $31.00 price target on shares of Stoneridge in a research note on Sunday, January 6th. Finally, Buckingham Research set a $32.00 price target on shares of Stoneridge and gave the stock a buy rating in a research note on Friday, December 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $31.20.
Several institutional investors have recently modified their holdings of SRI. Raymond James & Associates purchased a new position in shares of Stoneridge during the 2nd quarter worth $889,000. Bank of America Corp DE lifted its stake in shares of Stoneridge by 32.6% during the 2nd quarter. Bank of America Corp DE now owns 72,782 shares of the auto parts company’s stock valued at $2,558,000 after buying an additional 17,885 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Stoneridge by 9.4% during the 2nd quarter. Northern Trust Corp now owns 374,474 shares of the auto parts company’s stock valued at $13,159,000 after buying an additional 32,182 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Stoneridge during the 2nd quarter valued at $252,000. Finally, Bank of Montreal Can lifted its stake in shares of Stoneridge by 27.5% during the 3rd quarter. Bank of Montreal Can now owns 141,987 shares of the auto parts company’s stock valued at $4,220,000 after buying an additional 30,659 shares in the last quarter. Institutional investors and hedge funds own 95.38% of the company’s stock.
Stoneridge Company Profile
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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