Stoneridge Inc. (SRI) Sees Large Volume Increase
Shares of Stoneridge Inc. (NYSE:SRI) saw strong trading volume on Wednesday . 237,471 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 227,440 shares.The stock last traded at $15.40 and had previously closed at $15.59.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Stoneridge from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. FBR & Co reissued a “hold” rating on shares of Stoneridge in a report on Thursday, April 7th. Sidoti downgraded shares of Stoneridge from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Tuesday, May 31st. Finally, B. Riley raised shares of Stoneridge from a “neutral” rating to a “buy” rating and set a $17.25 price objective for the company in a report on Thursday, May 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.06.
The company has a 50-day moving average price of $15.82 and a 200 day moving average price of $13.99. The firm has a market cap of $430.08 million and a P/E ratio of 15.64.
Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.08. During the same period last year, the company earned $0.17 earnings per share. The firm earned $162.62 million during the quarter, compared to analysts’ expectations of $172.80 million. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts forecast that Stoneridge Inc. will post $1.31 earnings per share for the current year.
Several institutional investors recently modified their holdings of the company. Russell Frank Co bought a new position in shares of Stoneridge during the fourth quarter worth $1,047,000. LSV Asset Management raised its position in shares of Stoneridge by 4.4% in the fourth quarter. LSV Asset Management now owns 764,900 shares of the company’s stock worth $11,320,000 after buying an additional 32,400 shares in the last quarter. EAM Investors LLC bought a new position in shares of Stoneridge during the fourth quarter worth $1,285,000. Heartland Advisors Inc. raised its position in shares of Stoneridge by 17.5% in the fourth quarter. Heartland Advisors Inc. now owns 731,050 shares of the company’s stock worth $10,820,000 after buying an additional 108,875 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Stoneridge by 16.2% in the fourth quarter. GSA Capital Partners LLP now owns 77,676 shares of the company’s stock worth $1,150,000 after buying an additional 10,843 shares in the last quarter.
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 in 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.
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