Stoneridge Inc. (SRI) Trading Up 3.2%
Shares of Stoneridge Inc. (NYSE:SRI) were up 3.2% during trading on Friday . The stock traded as high as $18.02 and last traded at $17.80, with a volume of 121,833 shares changing hands. The stock had previously closed at $17.25.
Several analysts recently commented on SRI shares. B. Riley upgraded Stoneridge to a “buy” rating and set a $17.25 target price on the stock in a research report on Tuesday, May 10th. Zacks Investment Research upgraded Stoneridge from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Saturday, May 7th. FBR & Co restated a “hold” rating and issued a $13.00 target price on shares of Stoneridge in a research report on Thursday, August 4th. Finally, Sidoti cut Stoneridge from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Tuesday, May 31st. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $17.60.
The stock has a market capitalization of $495.87 million and a PE ratio of 15.53. The stock’s 50-day moving average price is $16.83 and its 200 day moving average price is $15.09.
Stoneridge (NYSE:SRI) last released its earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. During the same period last year, the business earned $0.25 earnings per share. The firm had revenue of $186.90 million for the quarter, compared to analyst estimates of $184.91 million. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts predict that Stoneridge Inc. will post $1.37 earnings per share for the current year.
In related news, VP Richard P. Adante sold 18,979 shares of Stoneridge stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $17.64, for a total transaction of $334,789.56. Following the sale, the vice president now directly owns 61,532 shares of the company’s stock, valued at $1,085,424.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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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