Stoneridge (NYSE:SRI) Stock Rating Lowered by Zacks Research

Stoneridge (NYSE:SRI) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

SRI has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a research report on Friday, March 27th. Barrington Research cut shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Finally, Wall Street Zen cut shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average price target of $16.00.

Stoneridge Price Performance

Shares of NYSE SRI opened at $7.82 on Wednesday. Stoneridge has a 1 year low of $4.60 and a 1 year high of $9.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.02 and a quick ratio of 1.37. The company’s 50-day moving average is $6.30 and its 200 day moving average is $6.49. The stock has a market capitalization of $220.81 million, a P/E ratio of -1.77 and a beta of 1.85.

Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.76). Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%. The company had revenue of $160.85 million for the quarter, compared to analysts’ expectations of $139.00 million. On average, sell-side analysts expect that Stoneridge will post -0.74 earnings per share for the current year.

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently added to or reduced their stakes in SRI. Strs Ohio bought a new stake in Stoneridge in the first quarter worth $39,000. Quadrature Capital Ltd bought a new stake in Stoneridge in the fourth quarter worth $61,000. NewEdge Advisors LLC bought a new stake in Stoneridge in the fourth quarter worth $62,000. WINTON GROUP Ltd bought a new stake in Stoneridge in the fourth quarter worth $69,000. Finally, Jain Global LLC bought a new stake in Stoneridge in the fourth quarter worth $77,000. 98.07% of the stock is owned by institutional investors.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.