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

Stoneridge (NYSE:SRI) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research report on Tuesday, March 4th.

Stoneridge Price Performance

SRI opened at $4.63 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The stock has a market capitalization of $128.09 million, a PE ratio of -17.13 and a beta of 1.27. The stock’s 50 day moving average price is $4.96 and its 200-day moving average price is $6.91. Stoneridge has a 52-week low of $4.11 and a 52-week high of $18.57.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The company had revenue of $218.20 million for the quarter, compared to analysts’ expectations of $207.61 million. On average, equities research analysts predict that Stoneridge will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Stoneridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Stoneridge in the 3rd quarter worth about $161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Stoneridge by 27.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,736 shares of the auto parts company’s stock worth $378,000 after acquiring an additional 7,332 shares in the last quarter. Walleye Capital LLC purchased a new stake in Stoneridge in the third quarter worth about $483,000. Encompass More Asset Management bought a new position in shares of Stoneridge during the third quarter valued at approximately $235,000. Finally, Paloma Partners Management Co purchased a new position in shares of Stoneridge during the third quarter valued at approximately $139,000. Hedge funds and other 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.