Barrington analyst Gary Prestopino downgraded Stoneridge (SRI) to Hold today. The company’s shares closed last Monday at $22.88.
According to TipRanks.com, Prestopino is a 1-star analyst with an average return of -0.8% and a 41.8% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services, Liquidity Services, and Cardtronics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Stoneridge with a $36.50 average price target, representing a 45.1% upside. In a report released today, B.Riley FBR also maintained a Hold rating on the stock with a $33.00 price target.
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Based on Stoneridge’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $6.66 million. In comparison, last year the company had a net profit of $12.06 million.
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Stoneridge, Inc. engages in the design and manufacture of engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets.
