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

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

Separately, Barrington Research restated an "outperform" rating and set a $16.00 price target on shares of Stoneridge in a report on Thursday, October 31st.

Stoneridge Price Performance

Shares of SRI stock traded up $0.09 during mid-day trading on Wednesday, hitting $6.09. The company had a trading volume of 888,671 shares, compared to its average volume of 168,512. The company has a market capitalization of $168.62 million, a P/E ratio of -22.56 and a beta of 1.36. Stoneridge has a 52-week low of $5.89 and a 52-week high of $19.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The stock's 50 day moving average price is $9.57 and its 200-day moving average price is $13.32.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings results 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). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The business had revenue of $213.80 million during the quarter, compared to the consensus estimate of $229.60 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The company's revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts forecast that Stoneridge will post -0.38 earnings per share for the current year.

Institutional Trading of Stoneridge

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Stoneridge during the 3rd quarter valued at $146,000. Barclays PLC grew its holdings in Stoneridge by 51.3% in the third quarter. Barclays PLC now owns 65,044 shares of the auto parts company's stock worth $727,000 after purchasing an additional 22,052 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Stoneridge by 3.0% in the third quarter. Disciplined Growth Investors Inc. MN now owns 247,196 shares of the auto parts company's stock valued at $2,766,000 after buying an additional 7,267 shares during the last quarter. XTX Topco Ltd boosted its holdings in Stoneridge by 25.7% in the third quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company's stock worth $155,000 after acquiring an additional 2,833 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Stoneridge by 218.3% during the third quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company's stock worth $780,000 after acquiring an additional 47,829 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors.

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.