Stoneridge (NYSE:SRI) Earns Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Stoneridge (NYSE:SRI - Free Report) in a research note published on Thursday morning,Benzinga reports. Barrington Research currently has a $16.00 price objective on the auto parts company's stock.

Separately, Wall Street Zen raised shares of Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th.

Stoneridge Trading Down 5.1%

SRI stock traded down $0.39 during midday trading on Thursday, hitting $7.27. The stock had a trading volume of 260,522 shares, compared to its average volume of 317,095. The firm has a market cap of $202.47 million, a PE ratio of -11.36 and a beta of 1.42. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.52. Stoneridge has a 12-month low of $3.54 and a 12-month high of $18.40. The company's 50-day moving average price is $5.86 and its 200 day moving average price is $5.19.

Stoneridge (NYSE:SRI - Get Free Report) last released its earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). Stoneridge had a negative return on equity of 4.66% and a negative net margin of 1.98%. The firm had revenue of $217.89 million during the quarter, compared to analysts' expectations of $212.42 million. On average, equities research analysts predict that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors have recently modified their holdings of SRI. Walleye Capital LLC raised its stake in Stoneridge by 369.9% during the fourth quarter. Walleye Capital LLC now owns 202,905 shares of the auto parts company's stock worth $1,272,000 after acquiring an additional 159,727 shares during the period. Amundi acquired a new stake in Stoneridge during the fourth quarter worth about $134,000. JPMorgan Chase & Co. raised its stake in Stoneridge by 380.6% during the fourth quarter. JPMorgan Chase & Co. now owns 272,460 shares of the auto parts company's stock worth $1,708,000 after acquiring an additional 215,764 shares during the period. Two Sigma Investments LP acquired a new stake in Stoneridge during the fourth quarter worth about $698,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Stoneridge by 246.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,909 shares of the auto parts company's stock worth $313,000 after acquiring an additional 35,500 shares during the period. Institutional investors and hedge funds own 98.07% of the company's stock.

About Stoneridge

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.