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

Barrington Research reaffirmed their outperform rating on shares of Stoneridge (NYSE:SRI) in a research note released on Wednesday,Benzinga reports. Barrington Research currently has a $16.00 price target on the auto parts company’s stock.

Separately, Wall Street Zen raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th.

Stoneridge Stock Performance

NYSE:SRI opened at $6.29 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.39 and a debt-to-equity ratio of 0.80. The company has a market cap of $175.04 million, a P/E ratio of -9.82 and a beta of 1.32. Stoneridge has a fifty-two week low of $3.54 and a fifty-two week high of $18.40. The firm’s 50 day moving average is $4.72 and its two-hundred day moving average is $5.11.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company 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 expect that Stoneridge will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Stoneridge

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. acquired a new stake in Stoneridge during the 4th quarter valued at $25,000. GAMMA Investing LLC grew its holdings in Stoneridge by 2,684.5% during the 1st 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. Strs Ohio acquired a new stake in Stoneridge during the 1st quarter valued at $39,000. US Bancorp DE grew its holdings in Stoneridge by 65.2% during the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 2,679 shares in the last quarter. Finally, CWM LLC grew its holdings in Stoneridge by 580.6% during the 1st 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. Hedge funds and other 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.