Stoneridge Upgraded to Neutral at Zacks (SRI)
Stoneridge (NYSE:SRI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Wednesday. The firm currently has a $11.30 price target on the stock. Zacks‘s price objective indicates a potential upside of 2.73% from the stock’s previous close.
Stoneridge (NYSE:SRI) traded down 1.64% on Wednesday, hitting $10.82. The stock had a trading volume of 20,559 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 $10.42 and its 200-day moving average is $10.97. The company has a market cap of $305.6 million and a P/E ratio of 23.97.
Stoneridge (NYSE:SRI) last announced its earnings results on Thursday, May 8th. The company reported $0.05 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.15 earnings per share. Stoneridge’s revenue was up .3% compared to the same quarter last year. On average, analysts predict that Stoneridge will post $0.65 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.
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