Stoneridge (NYSE:SRI) Given Outperform Rating at Barrington Research

Stoneridge (NYSE:SRI)‘s stock had its “outperform” rating reaffirmed by stock analysts at Barrington Research in a report released on Thursday, Benzinga reports. They presently have a $16.00 price objective on the auto parts company’s stock. Barrington Research’s price target indicates a potential upside of 132.22% from the stock’s previous close.

Several other research analysts also recently weighed in on SRI. StockNews.com upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stephens began coverage on Stoneridge in a research note on Monday, July 8th. They issued an “overweight” rating on the stock.

Stoneridge Stock Down 1.4 %

Shares of SRI opened at $6.89 on Thursday. The stock has a market capitalization of $190.72 million, a price-to-earnings ratio of -25.52 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.31 and a current ratio of 2.27. The stock has a fifty day moving average of $11.15 and a 200-day moving average of $14.05. Stoneridge has a 52 week low of $6.76 and a 52 week high of $19.91.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm had revenue of $213.80 million for the quarter, compared to the consensus estimate of $229.60 million. During the same period in the prior year, the business earned $0.10 EPS. Stoneridge’s quarterly revenue was down 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Stoneridge will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE bought a new stake in shares of Stoneridge during the 3rd quarter valued at about $46,000. nVerses Capital LLC purchased a new stake in Stoneridge in the third quarter worth about $59,000. Olympiad Research LP purchased a new stake in Stoneridge in the third quarter worth about $121,000. XTX Topco Ltd bought a new stake in Stoneridge during the 2nd quarter valued at approximately $176,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Stoneridge by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after acquiring an additional 1,226 shares during the period. Institutional investors own 98.07% of the company’s stock.

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.