Stoneridge Inc. (SRI) Trading Down 4%
Shares of Stoneridge Inc. (NYSE:SRI) were down 4% on Wednesday . The stock traded as low as $16.81 and last traded at $17.12, with a volume of 188,604 shares traded. The stock had previously closed at $17.84.
Several analysts have recently weighed in on SRI shares. Sidoti lowered Stoneridge from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Tuesday, May 31st. Zacks Investment Research raised Stoneridge from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a report on Wednesday. FBR & Co reissued a “hold” rating and set a $13.00 price objective on shares of Stoneridge in a report on Thursday. Finally, B. Riley restated a “buy” rating and set a $19.00 target price on shares of Stoneridge in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $17.60.
The firm has a market capitalization of $490.04 million and a PE ratio of 15.34. The stock’s 50-day moving average is $16.00 and its 200 day moving average is $14.40.
Stoneridge (NYSE:SRI) last posted its earnings results on Tuesday, August 2nd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.32 by $0.09. The firm earned $186.90 million during the quarter, compared to analyst estimates of $184.91 million. Stoneridge’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. Analysts expect that Stoneridge Inc. will post $1.37 earnings per share for the current year.
A number of large investors recently modified their holdings of SRI. Royce & Associates LLC increased its stake in shares of Stoneridge by 41.0% in the fourth quarter. Royce & Associates LLC now owns 300,200 shares of the company’s stock worth $4,443,000 after buying an additional 87,300 shares in the last quarter. GSA Capital Partners LLP increased its stake 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 worth $1,150,000 after buying an additional 10,843 shares in the last quarter. Finally, Russell Frank Co bought a new stake in shares of Stoneridge during the fourth quarter worth about $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.
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