Stoneridge Trading 3% Higher on Insider Buying Activity (SRI)
Stoneridge (NYSE:SRI) traded up 3% on Monday after an insider bought additional shares in the company, Analyst Ratings Network.com reports. The company traded as high as $9.91 and last traded at $9.90, with a volume of 93,723 shares changing hands. The stock had previously closed at $9.61.
Specifically, Director Jeffrey P. Draime bought 10,000 shares of Stoneridge stock on the open market in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average price of $9.56 per share, with a total value of $95,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Separately, analysts at Zacks upgraded shares of Stoneridge from an “underperform” rating to a “neutral” rating in a research note on Wednesday, May 7th. They now have a $10.90 price target on the stock.
The stock’s 50-day moving average is $10.29 and its 200-day moving average is $11.31. The company has a market cap of $285.0 million and a price-to-earnings ratio of 20.94.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.11 by $0.06. The company had revenue of $236.40 million for the quarter, compared to the consensus estimate of $245.94 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts predict that Stoneridge will post $0.67 earnings per share 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.