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

Key Points

• Wall Street Zen downgraded Stoneridge from “hold” to “sell.” Across analysts, MarketBeat reports an average rating of “Reduce,” with two Hold ratings and one Sell rating.
• Stoneridge reported quarterly EPS of $0.06, missing the $0.07 consensus estimate, while revenue of $180 million topped the $178.73 million estimate. Analysts expect a loss of $0.82 per share for the current fiscal year.
• The stock opened at $4.96 and traded near its one-year low of $4.60; its 50-day and 200-day moving averages were $6.49 and $6.88, respectively.

Stoneridge (NYSE:SRI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts also recently commented on SRI. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Stoneridge in a research report on Monday, September 21st. Zacks Research raised Stoneridge from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce".

Stoneridge Stock Up 3.7%

Stoneridge stock opened at $4.96 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.89 and a debt-to-equity ratio of 1.01. The business's fifty day moving average is $6.49 and its 200 day moving average is $6.88. Stoneridge has a one year low of $4.60 and a one year high of $9.71.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The auto parts company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The company had revenue of $180.00 million during the quarter, compared to analyst estimates of $178.73 million. Stoneridge had a negative net margin of 15.64% and a negative return on equity of 24.91%. Equities analysts anticipate that Stoneridge will post -0.82 earnings per share for the current fiscal year.

Insider Activity at Stoneridge

In other news, CFO Scott Humphrey bought 6,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was purchased at an average price of $7.01 per share, for a total transaction of $42,060.00. Following the acquisition, the chief financial officer owned 6,000 shares in the company, valued at approximately $42,060. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Natalia Noblet acquired 5,000 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $7.31 per share, with a total value of $36,550.00. Following the completion of the transaction, the chief executive officer owned 5,000 shares of the company's stock, valued at $36,550. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 11.00% of the stock is owned by company insiders.

Institutional Trading of Stoneridge

Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC purchased a new position in Stoneridge in the 2nd quarter worth approximately $484,000. Public Employees Retirement System of Ohio purchased a new stake in Stoneridge in the 2nd quarter worth about $239,000. Bank of America Corp DE acquired a new position in Stoneridge in the second quarter worth about $238,000. Man Group plc acquired a new position in shares of Stoneridge during the second quarter worth about $2,049,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Stoneridge during the 2nd quarter worth approximately $672,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Company Profile

Stoneridge, Inc NYSE: SRI is a global designer and manufacturer of highly engineered electrical and electronic systems for the automotive, commercial vehicle and off-highway vehicle markets. The company develops technologies intended to improve vehicle safety, efficiency, connectivity and the driver experience.

Its products include electronic instrument clusters and driver-information systems, vehicle controls and switches, sensors, wiring and connectivity solutions, telematics systems, and camera-based vision technologies.

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