Stoneridge (NYSE:SRI) Upgraded at Zacks Research

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

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

Stoneridge Price Performance

Stoneridge stock opened at $5.48 on Wednesday. The firm has a market cap of $153.39 million, a PE ratio of -1.48 and a beta of 1.45. Stoneridge has a one year low of $3.54 and a one year high of $9.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.30 and a quick ratio of 1.33. The stock’s fifty day moving average price is $7.23 and its two-hundred day moving average price is $6.87.

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

Institutional Trading of Stoneridge

A number of hedge funds and other institutional investors have recently modified their holdings of SRI. AQR Capital Management LLC boosted its holdings in shares of Stoneridge by 213.7% during the 1st quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after acquiring an additional 363,407 shares in the last quarter. Millennium Management LLC raised its holdings in Stoneridge by 3.0% in the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after buying an additional 28,037 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Stoneridge by 55.9% during the first quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock worth $2,250,000 after purchasing an additional 175,736 shares during the period. Strs Ohio acquired a new position in shares of Stoneridge during the first quarter worth $39,000. Finally, Savant Capital LLC bought a new stake in shares of Stoneridge in the second quarter worth $87,000. Institutional investors own 98.07% of the company’s stock.

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.