Zacks Upgrades Stoneridge to “Neutral” (SRI)
Stoneridge (NYSE:SRI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, American Banking News reports. The firm currently has a $13.10 price objective on the stock. Zacks‘ price target would suggest a potential upside of 2.75% from the company’s current price.
Stoneridge (NYSE:SRI) remained flat at $12.75 during during mid-day trading trading on Wednesday. 85,237 shares of the company’s stock traded hands. Stoneridge has a 52 week low of $5.25 and a 52 week high of $13.63. The stock’s 50-day moving average is $12.54 and its 200-day moving average is $12.30. The company has a market cap of $363.2 million and a price-to-earnings ratio of 19.62.
Stoneridge (NYSE:SRI) last released its earnings data on Thursday, October 31st. The company reported $0.19 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.01. The company had revenue of $233.50 million for the quarter, compared to the consensus estimate of $239.50 million. During the same quarter last year, the company posted $0.02 earnings per share. Stoneridge’s revenue was up 6.5% compared to the same quarter last 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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