Stephens Reiterates Overweight Rating for Stoneridge (NYSE:SRI)

Stephens restated their overweight rating on shares of Stoneridge (NYSE:SRI – Get Rating) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $27.00 target price on the auto parts company’s stock.

A number of other analysts also recently commented on SRI. StockNews.com downgraded Stoneridge from a buy rating to a hold rating in a research report on Thursday, February 23rd. TheStreet raised Stoneridge from a d+ rating to a c rating in a report on Tuesday, November 15th.

Stoneridge Stock Performance

Shares of Stoneridge stock opened at $20.43 on Thursday. The company has a market cap of $558.35 million, a PE ratio of -40.06 and a beta of 1.33. Stoneridge has a 52 week low of $15.62 and a 52 week high of $25.87. The business has a 50 day moving average price of $22.81 and a 200-day moving average price of $21.41. The company has a quick ratio of 1.39, a current ratio of 2.24 and a debt-to-equity ratio of 0.63.

Stoneridge (NYSE:SRI – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The auto parts company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). The business had revenue of $231.20 million for the quarter, compared to analysts’ expectations of $227.80 million. Stoneridge had a negative net margin of 1.56% and a negative return on equity of 4.04%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.24) earnings per share.

Hedge Funds Weigh In On Stoneridge

Several institutional investors and hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can bought a new position in shares of Stoneridge in the third quarter worth $32,000. Tower Research Capital LLC TRC boosted its holdings in shares of Stoneridge by 173.2% in the third quarter. Tower Research Capital LLC TRC now owns 2,205 shares of the auto parts company’s stock worth $37,000 after acquiring an additional 1,398 shares during the period. US Bancorp DE boosted its holdings in shares of Stoneridge by 138.3% in the first quarter. US Bancorp DE now owns 2,342 shares of the auto parts company’s stock worth $48,000 after acquiring an additional 1,359 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Stoneridge by 54.9% in the second quarter. BNP Paribas Arbitrage SA now owns 7,494 shares of the auto parts company’s stock worth $129,000 after acquiring an additional 2,655 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Stoneridge by 12.2% in the third quarter. SG Americas Securities LLC now owns 9,644 shares of the auto parts company’s stock worth $163,000 after acquiring an additional 1,048 shares during the period. 97.54% of the stock is owned by institutional investors.

About Stoneridge

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Stoneridge, Inc engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil.