Stoneridge (NYSE:SRI) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Stoneridge (NYSE:SRI) from a "hold" to a "buy" rating in a recent research note.
• Contrasting views: Weiss Ratings reiterated a "sell (d-)," and with one analyst Buy and one Sell the MarketBeat consensus remains a "Hold" with an average price target of $16.00.
• Weak recent results: Stoneridge missed Q earnings (EPS of -$0.53 vs. $0.02 expected), has a negative net margin (-11.94%) and negative ROE (-12.5%), and trades around $5.78 with a $161.8M market cap and a 52-week range of $3.54–$9.71.

Stoneridge (NYSE:SRI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Stoneridge in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $16.00.

Stoneridge Price Performance

Shares of NYSE:SRI opened at $5.78 on Friday. The firm has a market cap of $161.82 million, a price-to-earnings ratio of -1.56 and a beta of 1.45. The firm has a fifty day moving average price of $7.26 and a 200 day moving average price of $6.95. Stoneridge has a fifty-two week low of $3.54 and a fifty-two week high of $9.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 2.13.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.55). The company had revenue of $205.15 million during the quarter, compared to the consensus estimate of $211.70 million. Stoneridge had a negative net margin of 11.94% and a negative return on equity of 12.50%. As a group, sell-side analysts expect that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Several large investors have recently bought and sold shares of SRI. Arrowstreet Capital Limited Partnership raised its stake in Stoneridge by 285.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company's stock valued at $3,948,000 after purchasing an additional 383,805 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Stoneridge by 213.7% in the 1st quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company's stock worth $2,449,000 after buying an additional 363,407 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Stoneridge by 50.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,062,490 shares of the auto parts company's stock worth $7,480,000 after buying an additional 356,143 shares during the last quarter. 22NW LP increased its holdings in shares of Stoneridge by 19.4% in the 2nd quarter. 22NW LP now owns 1,943,508 shares of the auto parts company's stock worth $13,682,000 after buying an additional 315,855 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Stoneridge by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company's stock valued at $1,487,000 after buying an additional 198,423 shares in the last quarter. Institutional investors own 98.07% of the company's stock.

Stoneridge Company Profile

Stoneridge, Inc NYSE: SRI is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company's product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge's core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.

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