Stoneridge Inc. (SRI) Shares Up 1.4%
Stoneridge Inc. (NYSE:SRI) shares shot up 1.4% during mid-day trading on Tuesday . The stock traded as high as $16.36 and last traded at $16.06, with a volume of 142,986 shares. The stock had previously closed at $15.84.
Several research firms have recently issued reports on SRI. Zacks Investment Research cut Stoneridge from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. B. Riley raised Stoneridge from a “neutral” rating to a “buy” rating and set a $17.25 price objective for the company in a research report on Thursday, May 5th. Sidoti cut Stoneridge from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Tuesday, May 31st. Finally, FBR & Co reaffirmed a “hold” rating on shares of Stoneridge in a research report on Thursday, April 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.06.
The stock has a market capitalization of $445.95 million and a price-to-earnings ratio of 16.21. The firm’s 50 day moving average is $15.77 and its 200-day moving average is $14.00.
Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. During the same period last year, the business earned $0.17 earnings per share. The company earned $162.62 million during the quarter, compared to analysts’ expectations of $172.80 million. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts anticipate that Stoneridge Inc. will post $1.31 earnings per share for the current fiscal year.
A number of hedge funds and institutional investors recently added to or reduced their stakes in SRI. Heartland Advisors Inc. raised its position in Stoneridge by 17.5% in the fourth quarter. Heartland Advisors Inc. now owns 731,050 shares of the company’s stock valued at $10,820,000 after buying an additional 108,875 shares during the period. Royce & Associates LLC raised its position in Stoneridge by 41.0% in the fourth quarter. Royce & Associates LLC now owns 300,200 shares of the company’s stock valued at $4,443,000 after buying an additional 87,300 shares during the period. EAM Investors LLC bought a new position in Stoneridge during the fourth quarter valued at approximately $1,285,000. Russell Frank Co bought a new position in Stoneridge during the fourth quarter valued at approximately $1,047,000. Finally, Dimensional Fund Advisors LP raised its position in Stoneridge by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,842 shares of the company’s stock valued at $20,806,000 after buying an additional 19,094 shares during the period.
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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