Weiss Ratings Reiterates "Sell (D)" Rating for Stoneridge (NYSE:SRI)

Key Points

• Weiss Ratings has reaffirmed a "sell (D)" rating for Stoneridge (NYSE:SRI) amid concerns about the company's performance, particularly following a disappointing quarterly earnings report.
• Stoneridge reported a net loss of ($0.25) earnings per share, missing estimates by ($0.16), despite generating revenues of $227.95 million, exceeding analyst expectations.
• While Weiss Ratings is negative on the stock, Barrington Research maintains an "outperform" rating with a price target of $16.00, indicating mixed sentiments from analysts on Stoneridge's outlook.

Stoneridge (NYSE:SRI - Get Free Report)'s stock had its "sell (d)" rating reissued by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Barrington Research reissued an "outperform" rating and issued a $16.00 price objective on shares of Stoneridge in a report on Wednesday, August 20th. One 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.com, the company has an average rating of "Hold" and a consensus price target of $16.00.

Stoneridge Stock Performance

Shares of SRI stock traded up $0.14 on Wednesday, hitting $6.93. The company had a trading volume of 99,990 shares, compared to its average volume of 189,964. The firm has a market cap of $194.11 million, a P/E ratio of -6.42 and a beta of 1.47. The company has a 50-day moving average price of $7.96 and a 200-day moving average price of $6.36. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 0.63. Stoneridge has a twelve month low of $3.54 and a twelve month high of $10.33.

Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.16). The company had revenue of $227.95 million during the quarter, compared to analyst estimates of $219.90 million. Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. As a group, equities research analysts predict 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. Bank of America Corp DE increased its stake in Stoneridge by 113.9% during the 4th quarter. Bank of America Corp DE now owns 72,046 shares of the auto parts company's stock worth $452,000 after buying an additional 38,370 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Stoneridge by 2,684.5% in the first quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock valued at $29,000 after purchasing an additional 6,067 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Stoneridge by 18.4% in the first quarter. Assenagon Asset Management S.A. now owns 69,092 shares of the auto parts company's stock valued at $317,000 after purchasing an additional 10,724 shares in the last quarter. CWM LLC grew its position in shares of Stoneridge by 580.6% in the first quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock valued at $59,000 after purchasing an additional 10,961 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Stoneridge in the first quarter valued at approximately $128,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

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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