Stoneridge Inc. (SRI) Hits New 52-Week High at $18.48
Stoneridge Inc. (NYSE:SRI)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $18.48 and last traded at $17.28, with a volume of 299,571 shares traded. The stock had previously closed at $18.26.
A number of equities analysts recently commented on SRI shares. B. Riley upgraded 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. Zacks Investment Research upgraded 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 reiterated a “hold” rating and set a $13.00 target price on shares of Stoneridge in a research note on Thursday, August 4th. Finally, 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. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Stoneridge presently has a consensus rating of “Buy” and a consensus target price of $17.60.
The company has a market capitalization of $491.97 million and a P/E ratio of 15.41. The stock’s 50-day moving average is $17.07 and its 200-day moving average is $15.26.
Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.09. The company had revenue of $186.90 million for the quarter, compared to analyst estimates of $184.91 million. During the same period in the prior year, the business earned $0.25 earnings per share. Stoneridge’s revenue was up 13.1% on a year-over-year basis. Analysts forecast that Stoneridge Inc. will post $1.37 EPS for the current fiscal year.
In other Stoneridge news, VP Richard P. Adante sold 18,979 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $17.64, for a total transaction of $334,789.56. Following the completion of the transaction, the vice president now directly owns 61,532 shares of the company’s stock, valued at approximately $1,085,424.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard P. Adante sold 6,771 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $17.95, for a total transaction of $121,539.45. Following the transaction, the vice president now directly owns 40,482 shares of the company’s stock, valued at $726,651.90. 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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