Stoneridge Inc. (SRI) Reaches New 12-Month High at $17.32
Stoneridge Inc. (NYSE:SRI)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $17.32 and last traded at $17.21, with a volume of 158,608 shares. The stock had previously closed at $16.67.
SRI has been the subject of several recent research reports. B. Riley upgraded shares of Stoneridge to a “buy” rating and set a $17.25 price target for the company in a research report 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 report on Saturday, May 7th. FBR & Co reiterated a “hold” rating on shares of Stoneridge in a research report on Thursday, April 7th. Finally, Sidoti lowered shares of Stoneridge from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research report on Tuesday, May 31st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $17.06.
The stock’s 50-day moving average price is $15.82 and its 200 day moving average price is $14.18. The company has a market capitalization of $464.04 million and a PE ratio of 16.87.
Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, May 4th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.23 by $0.08. During the same period last year, the business earned $0.17 earnings per share. The firm earned $162.62 million during the quarter, compared to the consensus estimate of $172.80 million. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts forecast that Stoneridge Inc. will post $1.31 earnings per share for the current fiscal year.
A number of hedge funds and institutional investors have recently modified their holdings of the company. Royce & Associates LLC boosted its position in shares of Stoneridge by 41.0% in the fourth quarter. Royce & Associates LLC now owns 300,200 shares of the company’s stock valued at $4,443,000 after buying an additional 87,300 shares during the period. GSA Capital Partners LLP boosted its position 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 valued at $1,150,000 after buying an additional 10,843 shares during the period. Finally, Russell Frank Co purchased a new position in shares of Stoneridge during the fourth quarter valued at approximately $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.