Stoneridge (NYSE:SRI) Cut to Hold at StockNews.com

StockNews.com cut shares of Stoneridge (NYSE:SRI) from a buy rating to a hold rating in a research note released on Thursday morning.

Stoneridge Trading Up 1.3 %

Stoneridge stock opened at $15.96 on Thursday. Stoneridge has a 52 week low of $14.63 and a 52 week high of $24.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.40 and a current ratio of 2.39. The firm has a market capitalization of $441.61 million, a PE ratio of -113.99 and a beta of 1.39. The business’s 50-day simple moving average is $15.81 and its 200-day simple moving average is $17.09.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, May 1st. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Stoneridge had a positive return on equity of 0.84% and a negative net margin of 0.41%. The firm had revenue of $239.20 million for the quarter, compared to analyst estimates of $223.20 million. During the same period in the prior year, the company posted ($0.25) EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts forecast that Stoneridge will post 0.11 earnings per share for the current year.

Insider Transactions at Stoneridge

In other Stoneridge news, CEO James Zizelman acquired 6,500 shares of Stoneridge stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $15.72 per share, for a total transaction of $102,180.00. Following the purchase, the chief executive officer now directly owns 6,500 shares in the company, valued at approximately $102,180. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in Stoneridge by 7.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 16,681 shares of the auto parts company’s stock valued at $326,000 after purchasing an additional 1,132 shares during the last quarter. AJOVista LLC acquired a new stake in Stoneridge in the 4th quarter valued at about $42,000. Los Angeles Capital Management LLC lifted its position in Stoneridge by 19.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 15,242 shares of the auto parts company’s stock worth $298,000 after acquiring an additional 2,510 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Stoneridge by 28.0% during the first quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock worth $241,000 after acquiring an additional 2,861 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new stake in Stoneridge during the fourth quarter worth approximately $76,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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.