Stoneridge Inc. (SRI) Hits New 12-Month High at $17.32
Stoneridge Inc. (NYSE:SRI)’s share price hit a new 52-week high on Tuesday . The company traded as high as $17.32 and last traded at $17.21, with a volume of 158,608 shares traded. The stock had previously closed at $16.67.
SRI has been the subject of a number of recent analyst reports. Sidoti lowered Stoneridge from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research report on Tuesday, May 31st. Zacks Investment Research raised Stoneridge from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Saturday, May 7th. FBR & Co reissued a “hold” rating on shares of Stoneridge in a research report on Thursday, April 7th. Finally, B. Riley upgraded Stoneridge to a “buy” rating and set a $17.25 price target for the company in a research note on Tuesday, May 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $17.06.
The stock’s 50 day moving average price is $15.77 and its 200-day moving average price is $14.12. The stock has a market capitalization of $478.24 million and a price-to-earnings ratio of 17.39.
Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.08. The business had revenue of $162.62 million for the quarter, compared to analyst estimates of $172.80 million. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. Analysts anticipate that Stoneridge Inc. will post $1.31 earnings per share for the current year.
Several hedge funds and institutional investors have added to or reduced their stakes in the company. Russell Frank Co acquired a new position in Stoneridge during the fourth quarter valued at about $1,047,000. GSA Capital Partners LLP boosted its position in Stoneridge by 16.2% in the fourth quarter. GSA Capital Partners LLP now owns 77,676 shares of the company’s stock valued at $1,150,000 after buying an additional 10,843 shares in the last quarter. Finally, Royce & Associates LLC boosted 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 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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