Stoneridge (SRI) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a report released on Monday, ValuEngine reports.

Other research analysts also recently issued reports about the stock. Citigroup reissued an average rating on shares of Stoneridge in a research report on Tuesday, May 7th. Stephens set a $34.00 price objective on shares of Stoneridge and gave the stock a buy rating in a research report on Friday, March 1st. Barrington Research reissued a buy rating and set a $40.00 price objective on shares of Stoneridge in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research raised shares of Stoneridge from a sell rating to a hold rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Stoneridge currently has an average rating of Buy and a consensus target price of $35.33.

Shares of Stoneridge stock opened at $27.88 on Monday. Stoneridge has a 1 year low of $21.91 and a 1 year high of $37.69. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.37. The firm has a market cap of $817.67 million, a price-to-earnings ratio of 14.01 and a beta of 1.10.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, May 1st. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.09. Stoneridge had a net margin of 5.84% and a return on equity of 20.46%. The company had revenue of $218.00 million for the quarter, compared to the consensus estimate of $216.20 million. During the same period last year, the firm posted $0.50 EPS. Stoneridge’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts forecast that Stoneridge will post 1.61 EPS for the current year.

A number of institutional investors have recently modified their holdings of SRI. Vanguard Group Inc. boosted its holdings in shares of Stoneridge by 15.4% in the third quarter. Vanguard Group Inc. now owns 1,512,485 shares of the auto parts company’s stock valued at $44,952,000 after acquiring an additional 201,789 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Stoneridge by 15.4% in the third quarter. Vanguard Group Inc now owns 1,512,485 shares of the auto parts company’s stock valued at $44,952,000 after acquiring an additional 201,789 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Stoneridge by 7.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,255,145 shares of the auto parts company’s stock valued at $30,939,000 after acquiring an additional 86,741 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Stoneridge by 9.1% in the first quarter. Royce & Associates LP now owns 853,666 shares of the auto parts company’s stock valued at $24,637,000 after acquiring an additional 71,319 shares in the last quarter. Finally, Pembroke Management LTD boosted its holdings in shares of Stoneridge by 13.2% in the first quarter. Pembroke Management LTD now owns 825,290 shares of the auto parts company’s stock valued at $23,818,000 after acquiring an additional 96,233 shares in the last quarter. 94.41% of the stock is currently owned by institutional investors.

Stoneridge Company Profile

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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