KeyCorp Analysts Boost Earnings Estimates for Stoneridge, Inc. (NYSE:SRI)
Stoneridge, Inc. (NYSE:SRI) – Research analysts at KeyCorp boosted their Q3 2017 EPS estimates for Stoneridge in a research report issued on Thursday. KeyCorp analyst B. Hoselton now expects that the auto parts company will earn $0.32 per share for the quarter, up from their previous estimate of $0.29. KeyCorp also issued estimates for Stoneridge’s Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.47 EPS and FY2018 earnings at $1.57 EPS.
A number of other equities research analysts have also commented on SRI. Zacks Investment Research lowered shares of Stoneridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 4th. B. Riley reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Stoneridge in a research note on Monday, May 8th. ValuEngine lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, BidaskClub lowered shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.67.
Shares of Stoneridge (NYSE:SRI) opened at 16.84 on Monday. Stoneridge has a 12-month low of $13.42 and a 12-month high of $20.82. The firm has a 50-day moving average of $15.25 and a 200 day moving average of $16.88. The firm has a market capitalization of $474.37 million, a price-to-earnings ratio of 6.23 and a beta of 1.33.
Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.10. The company had revenue of $209.10 million for the quarter, compared to analyst estimates of $202.45 million. Stoneridge had a net margin of 10.12% and a return on equity of 23.35%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share.
In related news, insider Peter Kruk sold 22,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 20,047 shares in the company, valued at approximately $333,381.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in Stoneridge by 12.2% in the first quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock worth $128,000 after buying an additional 772 shares during the last quarter. CAPROCK Group Inc. bought a new position in Stoneridge during the second quarter worth about $157,000. Eqis Capital Management Inc. bought a new position in Stoneridge during the second quarter worth about $162,000. Highbridge Capital Management LLC bought a new position in Stoneridge during the fourth quarter worth about $182,000. Finally, Acrospire Investment Management LLC increased its position in Stoneridge by 21.8% in the first quarter. Acrospire Investment Management LLC now owns 10,479 shares of the auto parts company’s stock worth $190,000 after buying an additional 1,876 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.
Stoneridge Company Profile
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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