Insider Selling: Stoneridge VP Sells 15,000 Shares of Stock (SRI)
Stoneridge (NYSE:SRI) VP Thomas Beaver sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $12.01, for a total value of $180,150.00. Following the completion of the transaction, the vice president now directly owns 199,748 shares of the company’s stock, valued at approximately $2,398,973. The sale was disclosed in a filing with the SEC, which is available at this link.
Stoneridge (NYSE:SRI) traded up 5.03% during mid-day trading on Thursday, hitting $12.11. The stock had a trading volume of 304,931 shares. Stoneridge has a 52 week low of $4.51 and a 52 week high of $13.63. The stock’s 50-day moving average is $11.84 and its 200-day moving average is $10.74. The company has a market cap of $296.5 million and a price-to-earnings ratio of 24.48.
Stoneridge (NYSE:SRI) last announced its 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.
A number of analysts have recently weighed in on SRI shares. Analysts at TheStreet upgraded shares of Stoneridge 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 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 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.50.
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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