Stoneridge Inc. (SRI) Stock Price Down 4%
Stoneridge Inc. (NYSE:SRI)’s share price dropped 4% on Wednesday . The company traded as low as $16.81 and last traded at $17.12, with a volume of 188,604 shares. The stock had previously closed at $17.84.
SRI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Stoneridge from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Saturday, May 7th. FBR & Co reissued a “hold” rating on shares of Stoneridge in a research note on Thursday, April 7th. Sidoti downgraded shares of Stoneridge from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Tuesday, May 31st. Finally, B. Riley raised shares of Stoneridge to a “buy” rating and set a $17.25 target price for the company in a research note on Tuesday, May 10th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $18.75.
The firm’s 50 day moving average is $15.92 and its 200-day moving average is $14.36. The company has a market capitalization of $481.86 million and a PE ratio of 17.52.
Stoneridge (NYSE:SRI) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. During the same period in the prior year, the firm earned $0.25 EPS. The company earned $186.90 million during the quarter, compared to analysts’ expectations of $184.91 million. Stoneridge’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts predict that Stoneridge Inc. will post $1.34 EPS for the current year.
Several large investors have made changes to their positions in SRI. Royce & Associates LLC boosted its stake 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 during the period. GSA Capital Partners LLP boosted its stake 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 during the period. Finally, Russell Frank Co acquired a new stake in shares of Stoneridge during the fourth quarter worth about $1,047,000.
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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