Stoneridge Inc. (SRI) Trading 4.1% Higher
Stoneridge Inc. (NYSE:SRI) shares traded up 4.1% on Monday . The company traded as high as $17.42 and last traded at $17.37, with a volume of 349,675 shares changing hands. The stock had previously closed at $16.68.
A number of brokerages recently commented on SRI. B. Riley reaffirmed a “buy” rating and issued a $19.00 price target on shares of Stoneridge in a report on Monday. Zacks Investment Research downgraded shares of Stoneridge from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. FBR & Co reaffirmed a “hold” rating on shares of Stoneridge in a report on Thursday, April 7th. Finally, 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $17.50.
The stock has a 50 day moving average of $15.86 and a 200 day moving average of $14.31. The stock has a market capitalization of $483.53 million and a price-to-earnings ratio of 17.58.
Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, May 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. During the same quarter in the prior year, the company earned $0.17 EPS. The company earned $162.62 million during the quarter, compared to the consensus estimate of $172.80 million. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts forecast that Stoneridge Inc. will post $1.31 EPS for the current year.
Other institutional investors recently made changes to their positions in the company. Russell Frank Co bought a new position in shares of Stoneridge during the fourth quarter worth about $1,047,000. Royce & Associates LLC raised its position in shares of Stoneridge by 41.0% in the fourth quarter. Royce & Associates LLC now owns 300,200 shares of the company’s stock worth $4,443,000 after buying an additional 87,300 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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