Stoneridge (NYSE:SRI) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research report report published on Sunday morning.

A number of other equities analysts have also issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a report on Monday, December 29th. Zacks Research raised Stoneridge to a “hold” rating in a research report on Wednesday, March 18th. Finally, Barrington Research downgraded Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $16.00.

Stoneridge Stock Down 2.6%

SRI stock opened at $5.51 on Friday. The company has a market cap of $154.25 million, a price-to-earnings ratio of -1.49 and a beta of 1.45. The company has a fifty day moving average price of $7.20 and a 200 day moving average price of $6.80. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.30 and a quick ratio of 1.45. Stoneridge has a 12 month low of $3.54 and a 12 month high of $9.71.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Thursday, March 12th. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.55). The business had revenue of $205.15 million for the quarter, compared to analysts’ expectations of $211.70 million. Stoneridge had a negative return on equity of 13.49% and a negative net margin of 11.94%. Sell-side analysts expect that Stoneridge will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On Stoneridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake 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 worth $2,449,000 after buying an additional 363,407 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Stoneridge by 3.0% in the first 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings in 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 acquiring an additional 175,736 shares during the period. Strs Ohio purchased a new position in Stoneridge in the first quarter worth $39,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Stoneridge in the second quarter worth $139,000. Institutional investors and hedge funds 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.