Stoneridge (NYSE:SRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Stoneridge Inc. is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. Their products interface with a vehicle’s mechanical and electrical systems to activate equipment and accessories, display and monitor vehicle performance, and control and distribute electrical power and signals. “
Several other analysts also recently commented on the company. Stephens set a $35.00 price objective on Stoneridge and gave the company a “buy” rating in a research note on Tuesday, October 30th. Barrington Research set a $50.00 price objective on Stoneridge and gave the company a “buy” rating in a research note on Monday, October 29th. Buckingham Research reduced their price objective on Stoneridge from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, October 3rd. Finally, ValuEngine downgraded Stoneridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Stoneridge has an average rating of “Buy” and an average price target of $34.17.
SRI opened at $27.16 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.20 and a debt-to-equity ratio of 0.38. The company has a market cap of $773.63 million, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.58 and a beta of 1.10. Stoneridge has a 52 week low of $20.99 and a 52 week high of $37.69.
Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Friday, October 26th. The auto parts company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The firm had revenue of $208.90 million during the quarter, compared to the consensus estimate of $204.36 million. Stoneridge had a return on equity of 21.77% and a net margin of 7.09%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. On average, equities research analysts expect that Stoneridge will post 2.03 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of SRI. USA Financial Portformulas Corp acquired a new position in Stoneridge during the 3rd quarter worth approximately $105,000. Canandaigua National Bank & Trust Co. acquired a new position in Stoneridge during the 2nd quarter worth approximately $205,000. Jefferies Group LLC acquired a new position in Stoneridge during the 3rd quarter worth approximately $209,000. United Services Automobile Association acquired a new position in Stoneridge during the 2nd quarter worth approximately $252,000. Finally, First Quadrant L P CA increased its position in Stoneridge by 47.1% during the 3rd quarter. First Quadrant L P CA now owns 9,286 shares of the auto parts company’s stock worth $276,000 after purchasing an additional 2,974 shares during the period. 90.95% of the stock is owned by hedge funds and other institutional investors.
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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