Stoneridge Inc. (SRI) Reaches New 1-Year High at $18.48
Shares of Stoneridge Inc. (NYSE:SRI) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.48 and last traded at $17.28, with a volume of 299,571 shares trading hands. The stock had previously closed at $18.26.
A number of analysts recently issued reports on SRI shares. Zacks Investment Research upgraded Stoneridge from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Saturday, May 7th. Sidoti lowered 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. FBR & Co reiterated a “hold” rating and issued a $13.00 price target on shares of Stoneridge in a report on Thursday, August 4th. Finally, B. Riley reiterated a “buy” rating and issued a $19.00 price target on shares of Stoneridge in a report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.60.
The company has a 50-day moving average price of $16.96 and a 200 day moving average price of $15.23. The firm has a market capitalization of $477.77 million and a P/E ratio of 14.96.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. During the same quarter in the prior year, the business earned $0.25 EPS. 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% on a year-over-year basis. On average, analysts forecast that Stoneridge Inc. will post $1.37 EPS for the current fiscal year.
In other news, VP Richard P. Adante sold 6,771 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $17.95, for a total transaction of $121,539.45. Following the completion of the sale, the vice president now owns 40,482 shares in the company, valued at approximately $726,651.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard P. Adante sold 18,979 shares of the firm’s stock in a transaction that occurred on 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 owns 61,532 shares of the company’s stock, valued at approximately $1,085,424.48. The disclosure for this sale can be found here.
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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