ValuEngine Lowers Stoneridge (SRI) to Hold

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

A number of other equities research analysts also recently commented on SRI. Citigroup reiterated an average rating on shares of Stoneridge in a research report on Tuesday, May 7th. Stephens set a $34.00 target price on Stoneridge and gave the stock a buy rating in a research report on Friday, March 1st. Barrington Research reiterated a buy rating and issued a $40.00 target price on shares of Stoneridge in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research upgraded Stoneridge from a sell rating to a hold rating in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $35.33.

NYSE:SRI traded down $0.20 during mid-day trading on Monday, hitting $27.88. 35,293 shares of the company traded hands, compared to its average volume of 228,921. Stoneridge has a one year low of $21.91 and a one year high of $37.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.48 and a current ratio of 2.06. The firm has a market capitalization of $807.47 million, a PE ratio of 14.01 and a beta of 1.10.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, May 1st. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.09. The business had revenue of $218.00 million during the quarter, compared to analyst estimates of $216.20 million. Stoneridge had a return on equity of 20.46% and a net margin of 5.84%. Stoneridge’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. Equities analysts forecast that Stoneridge will post 1.61 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Equitable Trust Co. raised its position in Stoneridge by 5.5% during the first quarter. Equitable Trust Co. now owns 22,610 shares of the auto parts company’s stock valued at $653,000 after purchasing an additional 1,175 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in Stoneridge by 35.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 52,646 shares of the auto parts company’s stock valued at $1,519,000 after purchasing an additional 13,800 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in Stoneridge by 6.6% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 63,876 shares of the auto parts company’s stock valued at $1,843,000 after purchasing an additional 3,978 shares during the period. Goldman Sachs Group Inc. raised its position in Stoneridge by 135.0% during the first quarter. Goldman Sachs Group Inc. now owns 64,670 shares of the auto parts company’s stock valued at $1,866,000 after purchasing an additional 37,145 shares during the period. Finally, Oxford Asset Management LLP grew its stake in shares of Stoneridge by 234.2% during the first quarter. Oxford Asset Management LLP now owns 253,598 shares of the auto parts company’s stock valued at $7,319,000 after buying an additional 177,710 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

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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