StockNews.com downgraded shares of Stoneridge (NYSE:SRI - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.
Separately, Barrington Research reissued an "outperform" rating and set a $16.00 price target on shares of Stoneridge in a research report on Tuesday, March 4th.
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Stoneridge Price Performance
Shares of Stoneridge stock traded down $0.05 on Friday, hitting $5.30. The company's stock had a trading volume of 9,106 shares, compared to its average volume of 368,075. The company has a market capitalization of $146.78 million, a P/E ratio of -19.41 and a beta of 1.27. Stoneridge has a 52-week low of $4.11 and a 52-week high of $18.57. The firm has a fifty day moving average price of $5.18 and a 200-day moving average price of $7.80. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72.
Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.36). The business had revenue of $218.20 million during the quarter, compared to analysts' expectations of $207.61 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. On average, equities research analysts expect that Stoneridge will post -0.42 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Stoneridge
Hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its stake in shares of Stoneridge by 440.8% during the fourth quarter. Millennium Management LLC now owns 926,540 shares of the auto parts company's stock valued at $5,809,000 after buying an additional 755,223 shares during the period. AYAL Capital Advisors Ltd raised its holdings in Stoneridge by 264.2% in the 4th quarter. AYAL Capital Advisors Ltd now owns 923,494 shares of the auto parts company's stock valued at $5,790,000 after acquiring an additional 669,935 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Stoneridge by 405.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 699,838 shares of the auto parts company's stock worth $4,388,000 after purchasing an additional 561,488 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Stoneridge during the fourth quarter worth $2,180,000. Finally, 22NW LP purchased a new stake in shares of Stoneridge in the fourth quarter valued at $2,149,000. 98.07% of the stock is owned by institutional investors and hedge funds.
About Stoneridge
(
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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.
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