Stoneridge Rating Lowered to Underperform at Zacks (SRI)
Stoneridge (NYSE:SRI) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday. They currently have a $9.60 price objective on the stock. Zacks‘s price objective would indicate a potential downside of 4.67% from the company’s current price.
In other Stoneridge news, Director Jeffrey P. Draime acquired 10,000 shares of Stoneridge stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average cost of $9.56 per share, with a total value of $95,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Stoneridge (NYSE:SRI) traded up 4.32% on Thursday, hitting $10.505. The stock had a trading volume of 51,247 shares. Stoneridge has a 52 week low of $8.68 and a 52 week high of $13.63. The stock’s 50-day moving average is $10.24 and its 200-day moving average is $11.25. The company has a market cap of $296.7 million and a P/E ratio of 21.94.
Stoneridge (NYSE:SRI) last released its earnings data 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. Analysts expect that Stoneridge will post $0.67 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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