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

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

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

Stoneridge Stock Down 2.6%

Shares of NYSE SRI traded down $0.17 during midday trading on Wednesday, reaching $6.10. 235,941 shares of the company's stock were exchanged, compared to its average volume of 290,458. Stoneridge has a 52-week low of $3.54 and a 52-week high of $18.40. The stock has a market capitalization of $169.75 million, a PE ratio of -9.52 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.52 and a current ratio of 2.39. The business's fifty day moving average price is $4.86 and its two-hundred day moving average price is $5.10.

Stoneridge (NYSE:SRI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). The business had revenue of $217.89 million for the quarter, compared to analysts' expectations of $212.42 million. Stoneridge had a negative return on equity of 4.66% and a negative net margin of 1.98%. Analysts forecast that Stoneridge will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Stoneridge

A number of hedge funds have recently bought and sold shares of SRI. Walleye Capital LLC boosted its stake in Stoneridge by 369.9% in the fourth quarter. Walleye Capital LLC now owns 202,905 shares of the auto parts company's stock valued at $1,272,000 after acquiring an additional 159,727 shares during the period. Amundi acquired a new position in Stoneridge in the fourth quarter valued at approximately $134,000. JPMorgan Chase & Co. boosted its stake in Stoneridge by 380.6% in the fourth quarter. JPMorgan Chase & Co. now owns 272,460 shares of the auto parts company's stock valued at $1,708,000 after acquiring an additional 215,764 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Stoneridge by 246.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,909 shares of the auto parts company's stock valued at $313,000 after acquiring an additional 35,500 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in Stoneridge by 119.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 39,324 shares of the auto parts company's stock valued at $247,000 after acquiring an additional 21,388 shares during the period. 98.07% of the stock is currently 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.