Stoneridge (SRI) Downgraded by ValuEngine
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.
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.
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.
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