Stoneridge (SRI) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a strong-buy rating in a research report report published on Friday, February 9th. The brokerage currently has $27.00 target price on the auto parts company’s stock.

According to Zacks, “Stoneridge Inc. is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. Their products interface with a vehicle’s mechanical and electrical systems to activate equipment and accessories, display and monitor vehicle performance, and control and distribute electrical power and signals. “

Several other research analysts have also recently commented on the stock. ValuEngine upgraded shares of Stoneridge from a buy rating to a strong-buy rating in a report on Friday, February 2nd. KeyCorp reiterated a hold rating on shares of Stoneridge in a report on Friday, November 17th. Finally, B. Riley reiterated a neutral rating on shares of Stoneridge in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a strong buy rating to the stock. Stoneridge currently has an average rating of Buy and a consensus price target of $24.50.

Stoneridge (NYSE:SRI) traded up $0.17 during midday trading on Friday, reaching $22.75. 111,709 shares of the company’s stock traded hands, compared to its average volume of 154,851. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. Stoneridge has a 12 month low of $14.16 and a 12 month high of $26.47. The firm has a market cap of $636.95, a PE ratio of 8.68 and a beta of 1.30.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. acquired a new position in shares of Stoneridge in the 4th quarter valued at $160,000. Highbridge Capital Management LLC acquired a new position in shares of Stoneridge in the 3rd quarter valued at $206,000. Teacher Retirement System of Texas acquired a new position in shares of Stoneridge in the 4th quarter valued at $213,000. Nine Chapters Capital Management LLC acquired a new position in shares of Stoneridge in the 3rd quarter valued at $216,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Stoneridge in the 4th quarter valued at $222,000. Institutional investors own 87.69% of the company’s stock.

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Stoneridge Company Profile

Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.

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