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3 Stocks Pushing The Automotive Industry Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Automotive industry as a whole closed the day down 0.7% versus the S&P 500, which was down 0.7%. Laggards within the Automotive industry included China Automotive Systems ( CAAS), down 2.3%, Strattec Security ( STRT), down 2.1%, Stoneridge ( SRI), down 3.4%, Accuride ( ACW), down 2.4% and Shiloh Industries ( SHLO), down 2.9%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Stoneridge ( SRI) is one of the companies that pushed the Automotive industry lower today. Stoneridge was down $0.36 (3.4%) to $10.54 on average volume. Throughout the day, 129,411 shares of Stoneridge exchanged hands as compared to its average daily volume of 153,700 shares. The stock ranged in price between $10.53-$10.91 after having opened the day at $10.86 as compared to the previous trading day's close of $10.91.

Stoneridge, Inc. designs and manufactures electrical and electronic components, modules, and systems for the commercial vehicle, automotive, agricultural, motorcycle, and off-highway vehicle markets in North America, South America, and Europe. Stoneridge has a market cap of $311.3 million and is part of the consumer goods sector. Shares are down 14.4% year-to-date as of the close of trading on Monday. Currently there is 1 analyst who rates Stoneridge a buy, no analysts rate it a sell, and 2 rate it a hold.

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TheStreet Ratings rates Stoneridge as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Highlights from TheStreet Ratings analysis on SRI go as follows:

  • Despite its growing revenue, the company underperformed as compared with the industry average of 3.4%. Since the same quarter one year prior, revenues slightly increased by 0.3%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • STONERIDGE INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, STONERIDGE INC increased its bottom line by earning $0.56 versus $0.21 in the prior year. This year, the market expects an improvement in earnings ($0.65 versus $0.56).
  • Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. In comparison to the other companies in the Auto Components industry and the overall market, STONERIDGE INC's return on equity is significantly below that of the industry average and is below that of the S&P 500.
  • The debt-to-equity ratio of 1.33 is relatively high when compared with the industry average, suggesting a need for better debt level management. Even though the debt-to-equity ratio is weak, SRI's quick ratio is somewhat strong at 1.16, demonstrating the ability to handle short-term liquidity needs.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Auto Components industry. The net income has significantly decreased by 64.4% when compared to the same quarter one year ago, falling from $4.12 million to $1.47 million.

You can view the full analysis from the report here: Stoneridge Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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