Stoneridge (NYSE:SRI) Stock Rating Lowered by Wall Street Zen

Stoneridge (NYSE:SRI) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Several other analysts have also recently commented on SRI. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research note on Monday, December 29th. Zacks Research raised shares of Stoneridge to a “hold” rating in a research note on Wednesday. Finally, Barrington Research cut shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Stoneridge presently has a consensus rating of “Reduce” and an average target price of $16.00.

Stoneridge Stock Performance

NYSE SRI opened at $5.49 on Friday. The business has a fifty day moving average of $7.22 and a 200-day moving average of $6.84. The company has a quick ratio of 1.33, a current ratio of 2.30 and a debt-to-equity ratio of 1.01. Stoneridge has a fifty-two week low of $3.54 and a fifty-two week high of $9.71. The stock has a market cap of $153.77 million, a price-to-earnings ratio of -1.48 and a beta of 1.45.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, March 11th. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.55). The company had revenue of $205.15 million for the quarter, compared to analyst estimates of $211.70 million. Stoneridge had a negative return on equity of 13.49% and a negative net margin of 11.94%. As a group, analysts predict that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. 22NW LP raised its holdings in Stoneridge by 4.1% in the fourth quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock worth $12,696,000 after purchasing an additional 87,164 shares during the period. Vanguard Group Inc. grew its holdings in shares of Stoneridge by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock valued at $11,540,000 after buying an additional 51,263 shares during the period. Federated Hermes Inc. grew its holdings in shares of Stoneridge by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock valued at $6,430,000 after buying an additional 47,135 shares during the period. AYAL Capital Advisors Ltd increased its position in shares of Stoneridge by 2.1% in the 4th quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock valued at $6,305,000 after buying an additional 22,330 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Stoneridge by 3.0% during the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock worth $4,382,000 after buying an additional 28,037 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

About Stoneridge

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.