Stoneridge Cutting Back

Stoneridge, Inc. (SRI - Snapshot Report) designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, medium and heavy-duty truck as well as agricultural vehicle markets. The company’s primary products include power distribution components and systems, electrical switches and sensors, and other modular assemblies.

Stoneridge is aggressively cutting costs and benefiting from the growth of the commercial vehicle market. Increased use of electronics in vehicles is also benefiting the company. However, a squeeze between raw materials and prices, along with weak vehicle demand, force us to rate the shares a Hold with a target price of $8.50.

Read the full analyst report on SRI