KeyCorp Analysts Boost Earnings Estimates for Stoneridge, Inc. (NYSE:SRI)
Stoneridge, Inc. (NYSE:SRI) – Analysts at KeyCorp increased their Q3 2017 earnings per share (EPS) estimates for shares of Stoneridge in a research report issued on Thursday. KeyCorp analyst B. Hoselton now anticipates that the auto parts company will post earnings per share of $0.32 for the quarter, up from their prior estimate of $0.29. KeyCorp also issued estimates for Stoneridge’s Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.47 EPS and FY2018 earnings at $1.57 EPS.
SRI has been the subject of several other reports. Zacks Investment Research lowered Stoneridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 4th. ValuEngine lowered Stoneridge from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub lowered Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday. Finally, B. Riley reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Stoneridge in a research note on Saturday, May 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Stoneridge presently has an average rating of “Hold” and a consensus price target of $18.67.
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Stoneridge (NYSE:SRI) opened at 16.98 on Monday. Stoneridge has a 52 week low of $13.42 and a 52 week high of $20.82. The firm has a 50-day moving average price of $15.25 and a 200-day moving average price of $16.88. The stock has a market capitalization of $478.31 million, a PE ratio of 6.28 and a beta of 1.33.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.10. The business had revenue of $209.10 million for the quarter, compared to analysts’ expectations of $202.45 million. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS.
In other news, insider Peter Kruk sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $16.63, for a total value of $365,860.00. Following the completion of the sale, the insider now directly owns 20,047 shares of the company’s stock, valued at approximately $333,381.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Stoneridge by 31.2% in the first quarter. American Century Companies Inc. now owns 514,584 shares of the auto parts company’s stock valued at $9,335,000 after buying an additional 122,385 shares during the last quarter. Algert Global LLC increased its stake in shares of Stoneridge by 17.1% in the first quarter. Algert Global LLC now owns 82,933 shares of the auto parts company’s stock valued at $1,504,000 after buying an additional 12,081 shares during the last quarter. LSV Asset Management increased its stake in shares of Stoneridge by 6.0% in the first quarter. LSV Asset Management now owns 699,700 shares of the auto parts company’s stock valued at $12,692,000 after buying an additional 39,800 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Stoneridge by 7.5% in the first quarter. Wedge Capital Management L L P NC now owns 76,200 shares of the auto parts company’s stock valued at $1,382,000 after buying an additional 5,300 shares during the last quarter. Finally, Bowling Portfolio Management LLC increased its stake in shares of Stoneridge by 101.1% in the first quarter. Bowling Portfolio Management LLC now owns 42,003 shares of the auto parts company’s stock valued at $762,000 after buying an additional 21,117 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.
Stoneridge Company Profile
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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