Stoneridge Inc. (SRI) Given Consensus Recommendation of “Hold” by Analysts
Shares of Stoneridge Inc. (NYSE:SRI) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the firm. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $16.75.
Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Stoneridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 5th. B. Riley reaffirmed a “buy” rating and issued a $19.00 price target on shares of Stoneridge in a report on Tuesday, August 9th. Finally, FBR & Co reaffirmed a “hold” rating and issued a $13.00 price target on shares of Stoneridge in a report on Thursday, August 4th.
Shares of Stoneridge (NYSE:SRI) opened at 17.88 on Monday. The stock has a market cap of $497.81 million, a price-to-earnings ratio of 15.59 and a beta of 1.95. The firm has a 50-day moving average price of $18.17 and a 200-day moving average price of $16.28. Stoneridge has a 52 week low of $10.51 and a 52 week high of $19.20.
Stoneridge (NYSE:SRI) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.09. Stoneridge had a net margin of 4.84% and a return on equity of 30.33%. The business had revenue of $186.90 million for the quarter, compared to analyst estimates of $184.91 million. During the same period in the previous year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts anticipate that Stoneridge will post $1.37 earnings per share for the current year.
In related news, VP Thomas A. Beaver sold 40,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $18.25, for a total transaction of $730,000.00. Following the completion of the transaction, the vice president now directly owns 85,667 shares in the company, valued at $1,563,422.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard P. Adante sold 18,979 shares of the business’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 transaction, the vice president now owns 61,532 shares of the company’s stock, valued at $1,085,424.48. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Stoneridge during the first quarter worth about $330,000. Commonwealth Equity Services Inc increased its position in Stoneridge by 35.0% in the first quarter. Commonwealth Equity Services Inc now owns 25,533 shares of the company’s stock worth $372,000 after buying an additional 6,613 shares in the last quarter. Royce & Associates LP increased its position in Stoneridge by 6.0% in the first quarter. Royce & Associates LP now owns 318,200 shares of the company’s stock worth $4,633,000 after buying an additional 18,000 shares in the last quarter. Spark Investment Management LLC acquired a new position in Stoneridge during the first quarter worth about $422,000. Finally, Geode Capital Management LLC increased its position in Stoneridge by 6.3% in the first quarter. Geode Capital Management LLC now owns 166,342 shares of the company’s stock worth $2,421,000 after buying an additional 9,813 shares in the last quarter. Institutional investors own 85.24% of the company’s stock.
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 through 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 and includes product lines, such as sensors, switches, valves, and actuators.
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