Stoneridge (NYSE:SRI) Rating Lowered to "Hold" at StockNews.com

Stoneridge (NYSE:SRI - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Monday.

A number of other brokerages also recently weighed in on SRI. Barrington Research reissued an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a report on Thursday. Stephens assumed coverage on Stoneridge in a report on Monday, July 8th. They set an "overweight" rating on the stock.

Stoneridge Price Performance

SRI stock traded up $0.10 during trading on Monday, hitting $6.99. The company had a trading volume of 454,241 shares, compared to its average volume of 156,065. The firm has a market capitalization of $193.54 million, a price-to-earnings ratio of -25.89 and a beta of 1.36. The business has a 50 day moving average of $11.00 and a 200 day moving average of $13.97. Stoneridge has a fifty-two week low of $6.76 and a fifty-two week high of $19.91. The company has a current ratio of 2.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.32). The company had revenue of $213.80 million during the quarter, compared to analyst estimates of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The business's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. As a group, research analysts predict that Stoneridge will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Stoneridge

A number of large investors have recently added to or reduced their stakes in SRI. US Bancorp DE acquired a new position in Stoneridge during the third quarter worth $46,000. nVerses Capital LLC bought a new position in Stoneridge in the third quarter valued at about $59,000. Olympiad Research LP bought a new position in Stoneridge in the third quarter valued at about $121,000. XTX Topco Ltd bought a new position in Stoneridge during the second quarter worth about $176,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Stoneridge by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company's stock worth $181,000 after buying an additional 1,226 shares during the last quarter. Institutional investors own 98.07% of the company's stock.

Stoneridge Company Profile

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.