Insider Selling: John Corey Sells 28,000 Shares of Stoneridge Stock (SRI)
Stoneridge (NYSE:SRI) CEO John Corey unloaded 28,000 shares of Stoneridge stock on the open market in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $12.31, for a total transaction of $344,680.00. Following the transaction, the chief executive officer now directly owns 756,285 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on SRI. Analysts at TheStreet upgraded shares of Stoneridge (NYSE:SRI) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, August 14th. Separately, analysts at Stephens raised their price target on shares of Stoneridge (NYSE:SRI) from $12.00 to $15.50 in a research note to investors on Monday, August 5th. They now have an “overweight” rating on the stock. Finally, analysts at Zacks downgraded shares of Stoneridge (NYSE:SRI) from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, July 19th. They now have a $14.00 price target on the stock.
Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $13.50.
Stoneridge (NYSE:SRI) traded up 1.04% on Wednesday, hitting $11.66. The stock had a trading volume of 328,444 shares. Stoneridge has a 52-week low of $4.45 and a 52-week high of $13.63. The stock has a 50-day moving average of $12.69 and a 200-day moving average of $10.15. The company has a market cap of $285.5 million and a P/E ratio of 24.50.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.03. The company had revenue of $242.80 million for the quarter, compared to the consensus estimate of $237.64 million. During the same quarter last year, the company posted ($0.13) earnings per share. Stoneridge’s revenue was up 3.6% compared to the same quarter last year. Analysts expect that Stoneridge will post $0.81 EPS for the current fiscal year.
Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the commercial vehicle, automotive, agricultural and off-highway vehicle markets.
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