Stoneridge (NYSE:SRI) Downgraded to Market Perform Rating by Barrington Research

Barrington Research cut shares of Stoneridge (NYSE:SRI) from an outperform rating to a market perform rating in a report released on Monday morning, MarketBeat Ratings reports.

Several other analysts also recently issued reports on SRI. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research note on Monday, December 29th. Wall Street Zen raised Stoneridge from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $16.00.

Stoneridge Stock Performance

Shares of SRI opened at $5.74 on Monday. The company has a 50-day moving average of $7.26 and a two-hundred day moving average of $6.91. The stock has a market cap of $160.69 million, a price-to-earnings ratio of -1.55 and a beta of 1.45. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.13 and a quick ratio of 1.33. Stoneridge has a one year low of $3.54 and a one year high of $9.71.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, March 11th. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.55). The firm had revenue of $205.15 million for the quarter, compared to analyst estimates of $211.70 million. Stoneridge had a negative net margin of 11.94% and a negative return on equity of 12.50%. On average, equities research analysts expect that Stoneridge will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRI. Strs Ohio acquired a new position in Stoneridge in the 1st quarter valued at approximately $39,000. Quadrature Capital Ltd acquired a new stake in shares of Stoneridge during the 4th quarter valued at $61,000. NewEdge Advisors LLC purchased a new position in shares of Stoneridge during the 4th quarter valued at $62,000. WINTON GROUP Ltd purchased a new position in shares of Stoneridge during the 4th quarter valued at $69,000. Finally, Catalyst Funds Management Pty Ltd acquired a new position in shares of Stoneridge in the second quarter worth $70,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Company Profile

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.