Stoneridge (NYSE:SRI) Upgraded at Zacks Research

Zacks Research upgraded shares of Stoneridge (NYSE:SRI) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Stoneridge presently has an average rating of “Reduce” and an average target price of $16.00.

Stoneridge Stock Performance

NYSE SRI opened at $7.15 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00. Stoneridge has a fifty-two week low of $4.60 and a fifty-two week high of $9.71. The business has a fifty day moving average of $7.25 and a 200-day moving average of $6.90. The stock has a market cap of $201.89 million, a price-to-earnings ratio of -1.62 and a beta of 1.85.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Thursday, May 7th. The auto parts company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.76). The company had revenue of $160.85 million for the quarter, compared to analyst estimates of $139.00 million. Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%. As a group, analysts predict that Stoneridge will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stoneridge news, Director William M. Lasky bought 5,000 shares of Stoneridge stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $7.46 per share, for a total transaction of $37,300.00. Following the completion of the transaction, the director owned 192,666 shares of the company’s stock, valued at $1,437,288.36. This represents a 2.66% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira C. Kaplan purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $7.54 per share, for a total transaction of $37,700.00. Following the completion of the purchase, the director owned 100,046 shares in the company, valued at $754,346.84. The trade was a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 11.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SRI. Assenagon Asset Management S.A. increased its position in Stoneridge by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock worth $1,487,000 after purchasing an additional 198,423 shares in the last quarter. Empowered Funds LLC lifted its position in Stoneridge by 174.2% during the first quarter. Empowered Funds LLC now owns 61,880 shares of the auto parts company’s stock valued at $299,000 after buying an additional 39,315 shares in the last quarter. Sei Investments Co. lifted its position in Stoneridge by 45.6% during the first quarter. Sei Investments Co. now owns 31,090 shares of the auto parts company’s stock valued at $150,000 after buying an additional 9,732 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Stoneridge during the first quarter worth approximately $90,000. Finally, Villere ST Denis J & Co. LLC grew its stake in Stoneridge by 100.0% during the first quarter. Villere ST Denis J & Co. LLC now owns 30,000 shares of the auto parts company’s stock worth $145,000 after buying an additional 15,000 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

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.