Stoneridge (NYSE:SRI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI - Free Report) from a hold rating to a buy rating in a research report released on Friday morning.

Separately, Barrington Research restated an "outperform" rating and set a $16.00 price target on shares of Stoneridge in a research note on Monday, February 24th.

Stoneridge Stock Down 1.7 %

NYSE:SRI traded down $0.09 on Friday, hitting $5.38. The stock had a trading volume of 503,900 shares, compared to its average volume of 360,139. Stoneridge has a 1 year low of $4.11 and a 1 year high of $18.57. The firm's fifty day simple moving average is $5.23 and its two-hundred day simple moving average is $8.04. The stock has a market cap of $148.85 million, a P/E ratio of -19.91 and a beta of 1.34. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44.

Stoneridge (NYSE:SRI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share 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 return on equity of 0.42% and a negative net margin of 0.81%. Analysts predict that Stoneridge will post -0.42 earnings per share for the current year.

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Hedge Funds Weigh In On Stoneridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRI. US Bancorp DE bought a new position in Stoneridge in the 3rd quarter worth about $46,000. Olympiad Research LP bought a new stake in Stoneridge during the 3rd quarter worth approximately $121,000. Royce & Associates LP lifted its stake in Stoneridge by 12.3% in the 3rd quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company's stock worth $15,185,000 after purchasing an additional 148,461 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Stoneridge by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,035,643 shares of the auto parts company's stock worth $33,969,000 after purchasing an additional 24,548 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Stoneridge by 95,350.0% in the third quarter. Quest Partners LLC now owns 15,272 shares of the auto parts company's stock worth $171,000 after purchasing an additional 15,256 shares during the period. 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.