Stoneridge (SRI) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a buy rating in a research report sent to investors on Friday morning, ValuEngine reports.

Several other equities analysts have also weighed in on the stock. Stephens restated a buy rating and set a $31.00 price target on shares of Stoneridge in a research report on Sunday, January 6th. Barrington Research restated a buy rating and set a $35.00 price target on shares of Stoneridge in a research report on Wednesday, January 23rd. Buckingham Research set a $32.00 price target on shares of Stoneridge and gave the company a buy rating in a research report on Friday, December 28th. Finally, Zacks Investment Research lowered shares of Stoneridge from a hold rating to a sell rating in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Stoneridge presently has a consensus rating of Buy and an average target price of $35.00.

NYSE SRI opened at $32.01 on Friday. Stoneridge has a 1 year low of $21.91 and a 1 year high of $37.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.17 and a quick ratio of 1.64. The firm has a market capitalization of $918.53 million, a PE ratio of 16.09 and a beta of 1.09.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The company had revenue of $210.81 million during the quarter, compared to analyst estimates of $210.47 million. Stoneridge had a net margin of 6.27% and a return on equity of 21.57%. Analysts forecast that Stoneridge will post 1.66 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of SRI. NumerixS Investment Technologies Inc purchased a new stake in Stoneridge during the fourth quarter valued at about $26,000. Lake Point Wealth Management purchased a new stake in Stoneridge during the fourth quarter valued at about $33,000. First Interstate Bank lifted its holdings in Stoneridge by 31.9% during the fourth quarter. First Interstate Bank now owns 4,868 shares of the auto parts company’s stock valued at $120,000 after purchasing an additional 1,178 shares during the last quarter. Legal & General Group Plc lifted its holdings in Stoneridge by 10.0% during the fourth quarter. Legal & General Group Plc now owns 4,980 shares of the auto parts company’s stock valued at $123,000 after purchasing an additional 452 shares during the last quarter. Finally, Jefferies Group LLC purchased a new stake in Stoneridge during the third quarter valued at about $209,000. Institutional investors own 94.18% of the company’s stock.

About Stoneridge

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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