According to Zacks, “Stoneridge Inc. is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. Their products interface with a vehicle’s mechanical and electrical systems to activate equipment and accessories, display and monitor vehicle performance, and control and distribute electrical power and signals. “
Several other equities research analysts have also commented on SRI. B. Riley reaffirmed a buy rating and issued a $19.00 price target on shares of Stoneridge in a report on Monday, August 1st. FBR & Co reaffirmed a hold rating and issued a $13.00 price target on shares of Stoneridge in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $17.60.
Stoneridge (NYSE:SRI) opened at 18.40 on Wednesday. The stock has a market cap of $512.29 million, a price-to-earnings ratio of 16.04 and a beta of 1.94. Stoneridge has a 12 month low of $10.51 and a 12 month high of $19.20. The stock’s 50 day moving average price is $18.07 and its 200-day moving average price is $16.21.
Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $186.90 million for the quarter, compared to analyst estimates of $184.91 million. Stoneridge had a net margin of 4.84% and a return on equity of 30.33%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. Equities analysts expect that Stoneridge will post $1.37 EPS for the current year.
In other Stoneridge news, VP Thomas A. Beaver sold 40,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $18.25, for a total value of $730,000.00. Following the sale, the vice president now directly owns 85,667 shares of the company’s stock, valued at $1,563,422.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard P. Adante sold 18,979 shares of the company’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 completion of the sale, the vice president now directly owns 61,532 shares in the company, valued at $1,085,424.48. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of SRI. Acadian Asset Management LLC acquired a new stake in Stoneridge during the first quarter valued at approximately $330,000. Commonwealth Equity Services Inc raised its stake in Stoneridge by 35.0% in the first quarter. Commonwealth Equity Services Inc now owns 25,533 shares of the company’s stock valued at $372,000 after buying an additional 6,613 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Stoneridge during the first quarter valued at approximately $2,374,000. Royce & Associates LP raised its stake in Stoneridge by 6.0% in the first quarter. Royce & Associates LP now owns 318,200 shares of the company’s stock valued at $4,633,000 after buying an additional 18,000 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new stake in Stoneridge during the first quarter valued at approximately $422,000. 85.24% of the stock is currently owned by institutional investors.
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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