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

Stoneridge (NYSE:SRI) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Stoneridge presently has an average rating of “Reduce” and a consensus target price of $16.00.

Stoneridge Trading Up 0.8%

Shares of SRI opened at $7.43 on Tuesday. The stock has a market cap of $209.82 million, a PE ratio of -1.68 and a beta of 1.85. The stock has a 50 day simple moving average of $7.25 and a 200-day simple moving average of $6.89. Stoneridge has a 1 year low of $4.60 and a 1 year high of $9.71. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00.

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

Insider Activity

In other news, Director Ira C. Kaplan bought 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average price of $7.54 per share, for a total transaction of $37,700.00. Following the completion of the purchase, the director owned 100,046 shares in the company, valued at approximately $754,346.84. This trade represents a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William M. Lasky acquired 5,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $7.46 per share, with a total value of $37,300.00. Following the purchase, the director directly owned 192,666 shares in the company, valued at approximately $1,437,288.36. This represents a 2.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 11.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SRI. Strs Ohio bought a new position in shares of Stoneridge during the first quarter valued at $39,000. Quadrature Capital Ltd acquired a new stake in Stoneridge in the fourth quarter valued at $61,000. NewEdge Advisors LLC acquired a new stake in Stoneridge in the fourth quarter valued at $62,000. WINTON GROUP Ltd bought a new position in Stoneridge during the 4th quarter worth $69,000. Finally, Jain Global LLC acquired a new position in Stoneridge during the 4th quarter worth about $77,000. 98.07% of the stock is currently 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.