Zacks Investment Research upgraded shares of Stoneridge (NYSE:SRI) from a hold rating to a strong-buy rating in a research note released on Friday morning. Zacks Investment Research 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 analysts have also recently weighed in on SRI. ValuEngine raised 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 research report on Sunday, October 15th. Finally, B. Riley reiterated a neutral rating on shares of Stoneridge in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a strong buy rating to the company’s stock. Stoneridge currently has an average rating of Buy and an average price target of $24.50.

Shares of Stoneridge (SRI) opened at $22.55 on Friday. Stoneridge has a 1-year low of $14.16 and a 1-year high of $26.47. The firm has a market capitalization of $635.26, a PE ratio of 8.61 and a beta of 1.30. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58.

Several institutional investors have recently made changes to their positions in the company. EAM Investors LLC bought a new position in shares of Stoneridge during the 4th quarter valued at about $2,389,000. Martingale Asset Management L P increased its position in shares of Stoneridge by 35.0% during the 4th quarter. Martingale Asset Management L P now owns 105,655 shares of the auto parts company’s stock valued at $2,416,000 after purchasing an additional 27,416 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Stoneridge during the 4th quarter valued at about $502,000. UBS Asset Management Americas Inc. bought a new position in shares of Stoneridge during the 4th quarter valued at about $222,000. Finally, BlackRock Inc. increased its position in shares of Stoneridge by 2.7% during the 4th quarter. BlackRock Inc. now owns 2,033,351 shares of the auto parts company’s stock valued at $46,481,000 after purchasing an additional 54,287 shares during the last quarter. Hedge funds and other institutional investors own 87.69% of the company’s stock.

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About Stoneridge

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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