Stoneridge (NYSE:SRI) Upgraded at StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a research report report published on Friday.

Stoneridge Stock Performance

Shares of Stoneridge stock opened at $15.58 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.40 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $16.28 and a two-hundred day moving average price of $17.23. Stoneridge has a 1-year low of $14.63 and a 1-year high of $24.51. The company has a market cap of $431.10 million, a P/E ratio of -111.28 and a beta of 1.39.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, May 1st. The auto parts company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). Stoneridge had a positive return on equity of 0.84% and a negative net margin of 0.41%. The business had revenue of $239.20 million for the quarter, compared to analyst estimates of $223.20 million. During the same quarter in the previous year, the business posted ($0.25) earnings per share. The business’s revenue was down .9% on a year-over-year basis. As a group, analysts anticipate that Stoneridge will post 0.3 EPS for the current year.

Insider Activity

In related news, Director Kim Korth sold 7,745 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $16.49, for a total value of $127,715.05. Following the transaction, the director now owns 73,227 shares of the company’s stock, valued at approximately $1,207,513.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Kim Korth sold 7,745 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $16.49, for a total value of $127,715.05. Following the transaction, the director now owns 73,227 shares of the company’s stock, valued at approximately $1,207,513.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Zizelman bought 6,500 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average cost of $15.72 per share, for a total transaction of $102,180.00. Following the transaction, the chief executive officer now owns 6,500 shares in the company, valued at $102,180. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stoneridge

A number of hedge funds have recently modified their holdings of SRI. Los Angeles Capital Management LLC purchased a new position in shares of Stoneridge during the 3rd quarter valued at $256,000. Barclays PLC grew its position in shares of Stoneridge by 7.0% during the 3rd quarter. Barclays PLC now owns 16,857 shares of the auto parts company’s stock valued at $338,000 after purchasing an additional 1,105 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Stoneridge by 34.7% during the 3rd quarter. New York State Common Retirement Fund now owns 10,254 shares of the auto parts company’s stock valued at $206,000 after purchasing an additional 2,644 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Stoneridge by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 415,585 shares of the auto parts company’s stock valued at $8,341,000 after purchasing an additional 4,365 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Stoneridge during the 3rd quarter valued at $227,000. Institutional investors own 98.07% of the company’s stock.

About Stoneridge

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.