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

Key Points

• Barrington Research has reiterated an "outperform" rating for Stoneridge (NYSE:SRI) with a price target of $16.00, suggesting a potential upside of 117.69% from its current price.
• Wall Street Zen upgraded Stoneridge from a "hold" rating to a "buy" rating, indicating increased positive sentiment around the company's stock.
• Institutional investors now own 98.07% of Stoneridge's stock, reflecting substantial confidence in the company's future performance among hedge funds.

Barrington Research reiterated their outperform rating on shares of Stoneridge (NYSE:SRI - Free Report) in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a $16.00 price objective on the auto parts company's stock.

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

Stoneridge Stock Performance

Shares of NYSE SRI traded down $0.53 during midday trading on Monday, reaching $7.81. 341,963 shares of the company were exchanged, compared to its average volume of 359,897. The stock has a market cap of $217.53 million, a P/E ratio of -7.23 and a beta of 1.44. Stoneridge has a 1 year low of $3.54 and a 1 year high of $14.85. The stock has a fifty day simple moving average of $6.92 and a 200 day simple moving average of $5.43. The company has a current ratio of 2.39, a quick ratio of 1.52 and a debt-to-equity ratio of 0.80.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The auto parts company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). Stoneridge had a negative return on equity of 9.27% and a negative net margin of 3.39%. The firm had revenue of $227.95 million for the quarter, compared to analysts' expectations of $219.90 million. On average, research analysts forecast that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

A number of large investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new position in Stoneridge during the fourth quarter worth about $25,000. GAMMA Investing LLC raised its position in shares of Stoneridge by 2,684.5% during the 1st quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock worth $29,000 after purchasing an additional 6,067 shares during the last quarter. Strs Ohio acquired a new position in shares of Stoneridge during the 1st quarter worth approximately $39,000. Quantinno Capital Management LP purchased a new position in Stoneridge during the fourth quarter worth $63,000. Finally, R Squared Ltd acquired a new position in shares of Stoneridge in the second quarter worth $80,000. 98.07% of the stock is owned by institutional investors and hedge funds.

Stoneridge Company Profile

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.