Stoneridge (NYSE:SRI) Upgraded to Buy at StockNews.com

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

Separately, Barrington Research reiterated an "outperform" rating and issued a $16.00 price objective on shares of Stoneridge in a research report on Thursday, May 1st.

Stoneridge Stock Performance

NYSE SRI traded up $0.26 during trading hours on Tuesday, reaching $5.26. 261,515 shares of the company were exchanged, compared to its average volume of 281,271. The stock has a market capitalization of $146.55 million, a P/E ratio of -19.49 and a beta of 1.22. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. Stoneridge has a 1 year low of $3.54 and a 1 year high of $18.40. The business's 50 day simple moving average is $4.42 and its 200-day simple moving average is $5.39.

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 (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The business had revenue of $217.89 million during the quarter, compared to the consensus estimate of $212.42 million. On average, equities research analysts expect that Stoneridge will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On Stoneridge

A number of hedge funds have recently modified their holdings of SRI. Goldman Sachs Group Inc. lifted its stake in shares of Stoneridge by 55.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company's stock valued at $2,250,000 after buying an additional 175,736 shares in the last quarter. Millennium Management LLC lifted its position in shares of 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 acquiring an additional 28,037 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company's stock worth $2,449,000 after acquiring an additional 363,407 shares during the period. PDT Partners LLC grew its position in shares of Stoneridge by 83.5% during the first quarter. PDT Partners LLC now owns 85,608 shares of the auto parts company's stock worth $393,000 after purchasing an additional 38,961 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in Stoneridge by 57.7% during the 1st 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. Institutional investors own 98.07% of the company's stock.

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.