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

Key Points

• Wall Street Zen upgraded Stoneridge from “sell” to “hold.” The broader analyst consensus remains “Reduce,” with two Hold ratings and one Sell rating.
• Stoneridge reported quarterly EPS of $0.06, missing the $0.07 consensus, while revenue of $180 million topped expectations of $178.73 million.
• The stock traded at $5.08, down 0.2% on Friday, and was near its one-year low of $4.60.

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

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

Stoneridge Trading Down 0.2%

NYSE:SRI traded down $0.01 on Friday, hitting $5.08. 129,832 shares of the company's stock traded hands, compared to its average volume of 216,799. Stoneridge has a 1 year low of $4.60 and a 1 year high of $9.71. The firm has a 50-day moving average price of $6.29 and a 200-day moving average price of $6.86. The company has a market cap of $145.03 million, a PE ratio of -1.07 and a beta of 1.99.

Stoneridge (NYSE:SRI - Get Free Report) last posted 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 analysts' expectations of $178.73 million. Stoneridge had a negative return on equity of 25.72% and a negative net margin of 18.78%. On average, research analysts forecast that Stoneridge will post -0.82 EPS for the current fiscal year.

Insider Transactions at Stoneridge

In other Stoneridge news, CFO Scott Humphrey acquired 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average cost of $7.01 per share, for a total transaction of $42,060.00. Following the completion of the acquisition, the chief financial officer owned 6,000 shares of the company's stock, valued at approximately $42,060. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Stoneridge in the second quarter worth $18,734,000. Royce & Associates LP increased its holdings in Stoneridge by 2.4% in the 3rd quarter. Royce & Associates LP now owns 856,293 shares of the auto parts company's stock valued at $5,694,000 after buying an additional 20,000 shares during the period. Man Group plc acquired a new position in Stoneridge in the second quarter worth about $2,049,000. Globeflex Capital L P bought a new position in shares of Stoneridge during the 2nd quarter worth approximately $1,196,000. Finally, Empowered Funds LLC boosted its stake in shares of Stoneridge by 57.3% in the 3rd quarter. Empowered Funds LLC now owns 103,994 shares of the auto parts company's stock valued at $692,000 after purchasing an additional 37,863 shares in the last quarter. 98.07% of the stock is owned by institutional investors.

About Stoneridge

Stoneridge, Inc. designs and manufactures electrical and electronic systems for automotive, commercial vehicle and off-highway markets. Its products support vehicle control, driver information, safety and connectivity. The company's offerings include instrument clusters and displays, electronic control units, sensors, switches, actuators, power-distribution products, mirror and camera-monitoring systems, and telematics solutions. Stoneridge sells to vehicle manufacturers and serves customers in markets around the world.

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