Barrington Research Reiterates “Outperform” Rating for Stoneridge (NYSE:SRI)

Stoneridge (NYSE:SRI)‘s stock had its “outperform” rating reaffirmed by Barrington Research in a report released on Tuesday,Benzinga reports. They presently have a $16.00 price target on the auto parts company’s stock. Barrington Research’s price target would suggest a potential upside of 202.51% from the stock’s current price.

Separately, StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a report on Friday.

Stoneridge Price Performance

Stoneridge stock traded down $0.18 on Tuesday, reaching $5.29. The company’s stock had a trading volume of 195,394 shares, compared to its average volume of 352,376. The business’s fifty day moving average price is $5.23 and its 200 day moving average price is $8.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The company has a market cap of $146.44 million, a price-to-earnings ratio of -19.59 and a beta of 1.34. Stoneridge has a twelve month low of $4.11 and a twelve month high of $18.57.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.36). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The company had revenue of $218.20 million for the quarter, compared to analyst estimates of $207.61 million. Equities analysts expect that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Trading of Stoneridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of Stoneridge by 4.9% during the 4th quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock worth $304,000 after buying an additional 2,274 shares during the period. Geode Capital Management LLC boosted its stake in Stoneridge by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock valued at $3,882,000 after acquiring an additional 2,543 shares during the last quarter. 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 worth $43,000 after acquiring an additional 2,679 shares during the period. XTX Topco Ltd raised its position in shares of Stoneridge by 25.7% during the 3rd quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock valued at $155,000 after acquiring an additional 2,833 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Stoneridge by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 3,490 shares during the period. 98.07% of the stock is owned by 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.