Stoneridge Inc. (NYSE:SRI) Receives Consensus Rating of “Hold” from Brokerages
Stoneridge Inc. (NYSE:SRI) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $16.75.
Several analysts have recently weighed in on SRI shares. Zacks Investment Research downgraded Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. B. Riley reiterated a “buy” rating and set a $19.00 target price on shares of Stoneridge in a research report on Monday, August 1st. Finally, FBR & Co reiterated a “hold” rating and set a $13.00 target price on shares of Stoneridge in a research report on Thursday, August 4th.
Shares of Stoneridge (NYSE:SRI) traded up 1.60% during mid-day trading on Monday, reaching $18.42. 53,728 shares of the company traded hands. Stoneridge has a 52 week low of $10.51 and a 52 week high of $19.20. The firm has a 50 day moving average of $18.03 and a 200-day moving average of $16.16. The stock has a market capitalization of $512.85 million, a PE ratio of 16.06 and a beta of 1.94.
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Stoneridge (NYSE:SRI) last released its earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. Stoneridge had a return on equity of 30.33% and a net margin of 4.84%. The business earned $186.90 million during the quarter, compared to the consensus estimate of $184.91 million. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities research analysts expect that Stoneridge will post $1.37 EPS for the current fiscal year.
In other Stoneridge news, VP Thomas A. Beaver sold 40,000 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $18.25, for a total value of $730,000.00. Following the completion of the transaction, the vice president now directly owns 85,667 shares in the company, valued at $1,563,422.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard P. Adante sold 6,771 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $17.95, for a total transaction of $121,539.45. Following the completion of the transaction, the vice president now owns 40,482 shares of the company’s stock, valued at $726,651.90. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in SRI. Bogle Investment Management L P DE purchased a new position in shares of Stoneridge during the first quarter worth approximately $878,000. Royce & Associates LP increased its position in shares of Stoneridge by 6.3% in the second quarter. Royce & Associates LP now owns 338,200 shares of the company’s stock worth $5,053,000 after buying an additional 20,000 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Stoneridge during the first quarter worth approximately $330,000. Geode Capital Management LLC increased its position in shares of Stoneridge by 6.3% in the first quarter. Geode Capital Management LLC now owns 166,342 shares of the company’s stock worth $2,421,000 after buying an additional 9,813 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Stoneridge by 20.0% in the first quarter. Royal Bank of Canada now owns 10,276 shares of the company’s stock worth $150,000 after buying an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.
Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.
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