Barrington Research Reaffirms Outperform Rating for Stoneridge (NYSE:SRI)

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.

Stoneridge (NYSE:SRI - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Barrington Research in a note issued to investors on Monday,Benzinga reports. They currently have a $16.00 price target on the auto parts company's stock. Barrington Research's target price indicates a potential upside of 117.69% from the stock's current price.

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

Stoneridge Price Performance

Stoneridge stock opened at $7.35 on Monday. Stoneridge has a 12-month low of $3.54 and a 12-month high of $16.85. The stock has a market capitalization of $204.70 million, a P/E ratio of -11.48 and a beta of 1.44. The firm's 50-day moving average is $6.69 and its two-hundred day moving average is $5.37. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.52.

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently modified their holdings of the stock. 22NW LP boosted its position in shares of Stoneridge by 374.8% in the first quarter. 22NW LP now owns 1,627,653 shares of the auto parts company's stock worth $7,471,000 after acquiring an additional 1,284,866 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in shares of Stoneridge by 0.7% during the 4th quarter. Cooper Creek Partners Management LLC now owns 1,442,314 shares of the auto parts company's stock valued at $9,043,000 after buying an additional 9,829 shares during the period. Ewing Morris & Co. Investment Partners Ltd. grew its stake in shares of Stoneridge by 1.4% during the 4th quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,224,273 shares of the auto parts company's stock valued at $7,676,000 after buying an additional 16,833 shares during the period. Millennium Management LLC grew its stake in shares of Stoneridge by 3.0% during the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company's stock valued at $4,382,000 after buying an additional 28,037 shares during the period. Finally, AYAL Capital Advisors Ltd grew its stake in shares of Stoneridge by 264.2% during the 4th quarter. AYAL Capital Advisors Ltd now owns 923,494 shares of the auto parts company's stock valued at $5,790,000 after buying an additional 669,935 shares during the period. 98.07% of the stock is owned by institutional investors and hedge funds.

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.

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