Stoneridge (NYSE:SRI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Stoneridge (NYSE:SRI - Free Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

Separately, Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Stoneridge in a report on Thursday, May 1st.

Stoneridge Stock Performance

Stoneridge stock traded up $0.26 during trading hours on Tuesday, hitting $5.26. 261,515 shares of the stock traded hands, compared to its average volume of 282,381. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The firm's 50 day moving average price is $4.42 and its 200-day moving average price is $5.33. The stock has a market capitalization of $146.55 million, a price-to-earnings ratio of -19.49 and a beta of 1.22. Stoneridge has a 1 year low of $3.54 and a 1 year high of $18.40.

Stoneridge (NYSE:SRI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $217.89 million for the quarter, compared to analysts' expectations of $212.42 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. As a group, equities analysts expect that Stoneridge will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in Stoneridge by 55.9% in the first quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company's stock valued at $2,250,000 after purchasing an additional 175,736 shares during the period. Millennium Management LLC boosted its holdings in Stoneridge by 3.0% in the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company's stock valued at $4,382,000 after purchasing an additional 28,037 shares during the period. AQR Capital Management LLC boosted its holdings in Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company's stock valued at $2,449,000 after purchasing an additional 363,407 shares during the period. PDT Partners LLC boosted its holdings in Stoneridge by 83.5% in the first quarter. PDT Partners LLC now owns 85,608 shares of the auto parts company's stock valued at $393,000 after purchasing an additional 38,961 shares during the period. Finally, Trexquant Investment LP boosted its holdings in Stoneridge by 57.7% in the first quarter. Trexquant Investment LP now owns 353,572 shares of the auto parts company's stock valued at $1,623,000 after purchasing an additional 129,379 shares during the period. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

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.