Stoneridge (NYSE:SRI) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, August 23rd.

A number of other equities research analysts have also issued reports on SRI. Barrington Research set a $35.00 price target on Stoneridge and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Buckingham Research initiated coverage on Stoneridge in a research note on Wednesday, June 20th. They set a “buy” rating and a $37.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.40.

Stoneridge stock traded up $0.87 during midday trading on Thursday, reaching $28.43. 373,966 shares of the stock traded hands, compared to its average volume of 199,247. The firm has a market cap of $803.78 million, a PE ratio of 18.11, a PEG ratio of 1.62 and a beta of 0.98. Stoneridge has a 12 month low of $17.28 and a 12 month high of $37.69. The company has a current ratio of 2.13, a quick ratio of 1.59 and a debt-to-equity ratio of 0.43.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, August 1st. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Stoneridge had a return on equity of 21.43% and a net margin of 6.52%. The business had revenue of $220.60 million during the quarter, compared to analyst estimates of $220.40 million. During the same period last year, the company earned $0.42 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. equities research analysts forecast that Stoneridge will post 2.05 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in SRI. Deutsche Bank AG increased its holdings in shares of Stoneridge by 184.8% in the 4th quarter. Deutsche Bank AG now owns 83,414 shares of the auto parts company’s stock valued at $1,904,000 after acquiring an additional 54,126 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Stoneridge in the 4th quarter worth $313,000. Wells Fargo & Company MN boosted its position in shares of Stoneridge by 6.2% in the 1st quarter. Wells Fargo & Company MN now owns 65,274 shares of the auto parts company’s stock worth $1,802,000 after purchasing an additional 3,782 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Stoneridge in the 1st quarter worth $528,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Stoneridge in the 1st quarter worth $113,000. Institutional investors and hedge funds own 91.01% of the company’s stock.

About Stoneridge

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides 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.

Analyst Recommendations for Stoneridge (NYSE:SRI)

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