ValuEngine Downgrades Stoneridge, Inc. (SRI) to Hold
Stoneridge, Inc. (NYSE:SRI) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Stoneridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 4th. B. Riley reiterated a “buy” rating and set a $22.00 price target on shares of Stoneridge in a research report on Monday, March 6th.
Stoneridge (NYSE:SRI) traded down 1.24% during midday trading on Tuesday, reaching $14.37. The company’s stock had a trading volume of 141,308 shares. Stoneridge has a 52 week low of $13.42 and a 52 week high of $20.82. The firm has a market cap of $404.41 million, a P/E ratio of 5.14 and a beta of 1.27. The firm has a 50 day moving average price of $16.40 and a 200-day moving average price of $17.39.
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In related news, insider Peter Kruk sold 22,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $16.63, for a total transaction of $365,860.00. Following the sale, the insider now owns 20,047 shares in the company, valued at approximately $333,381.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Numeric Investors LLC increased its position in shares of Stoneridge by 160.6% in the fourth quarter. Numeric Investors LLC now owns 1,078,051 shares of the auto parts company’s stock valued at $19,071,000 after buying an additional 664,401 shares during the last quarter. Opus Capital Group LLC bought a new position in shares of Stoneridge during the first quarter valued at approximately $6,476,000. Norges Bank bought a new position in shares of Stoneridge during the fourth quarter valued at approximately $5,109,000. Gamco Investors INC. ET AL increased its position in shares of Stoneridge by 37.7% in the first quarter. Gamco Investors INC. ET AL now owns 455,094 shares of the auto parts company’s stock valued at $8,255,000 after buying an additional 124,594 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Stoneridge by 31.2% in the first quarter. American Century Companies Inc. now owns 514,584 shares of the auto parts company’s stock valued at $9,335,000 after buying an additional 122,385 shares during the last quarter. Institutional investors and hedge funds own 89.05% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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