Stoneridge (NYSE:SRI) Director Buys $37,300.00 in Stock

Stoneridge, Inc. (NYSE:SRI) Director William Lasky purchased 5,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $7.46 per share, with a total value of $37,300.00. Following the purchase, the director owned 192,666 shares of the company’s stock, valued at approximately $1,437,288.36. This represents a 2.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Stoneridge Stock Performance

NYSE:SRI opened at $7.65 on Monday. The company has a fifty day simple moving average of $6.78 and a two-hundred day simple moving average of $6.62. The company has a market cap of $216.06 million, a price-to-earnings ratio of -1.73 and a beta of 1.85. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00. Stoneridge, Inc. has a 52 week low of $4.60 and a 52 week high of $9.71.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Thursday, May 7th. The auto parts company reported ($0.75) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.76). The business had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%. As a group, equities analysts anticipate that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors and hedge funds have recently bought and sold shares of SRI. AQR Capital Management LLC lifted its position in Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after acquiring an additional 363,407 shares during the last quarter. Millennium Management LLC lifted its position in Stoneridge by 3.0% in the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after acquiring an additional 28,037 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Stoneridge by 55.9% in the first quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock valued at $2,250,000 after acquiring an additional 175,736 shares during the last quarter. Strs Ohio purchased a new stake in Stoneridge in the first quarter valued at $39,000. Finally, JPMorgan Chase & Co. lifted its position in Stoneridge by 25.0% in the second quarter. JPMorgan Chase & Co. now owns 614,538 shares of the auto parts company’s stock valued at $4,326,000 after acquiring an additional 122,897 shares during the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SRI. Zacks Research downgraded shares of Stoneridge from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Barrington Research downgraded shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Stoneridge presently has a consensus rating of “Sell” and an average price target of $16.00.

Stoneridge Company Profile

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.