Brokerages Set Stoneridge, Inc. (SRI) Target Price at $31.00

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Shares of Stoneridge, Inc. (NYSE:SRI) have received a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.00.

SRI has been the topic of several recent analyst reports. ValuEngine raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Barrington Research reaffirmed a “buy” rating on shares of Stoneridge in a research report on Monday, August 6th. Buckingham Research assumed coverage on Stoneridge in a research report on Wednesday, June 20th. They set a “buy” rating and a $37.00 target price on the stock. Finally, Zacks Investment Research lowered Stoneridge from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th.

SRI stock remained flat at $$24.73 during trading on Friday. The company had a trading volume of 276,981 shares, compared to its average volume of 268,279. Stoneridge has a 1-year low of $20.63 and a 1-year high of $37.69. The company has a market capitalization of $846.51 million, a PE ratio of 15.75, a PEG ratio of 1.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.13 and a quick ratio of 1.59.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, August 1st. The auto parts company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Stoneridge had a return on equity of 21.43% and a net margin of 6.52%. The business had revenue of $220.60 million for the quarter, compared to analysts’ expectations of $220.40 million. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Stoneridge will post 2.05 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position in Stoneridge by 2.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 125,615 shares of the auto parts company’s stock valued at $3,467,000 after buying an additional 2,545 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Stoneridge by 11.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 29,232 shares of the auto parts company’s stock valued at $1,027,000 after buying an additional 2,984 shares during the last quarter. Zacks Investment Management raised its position in Stoneridge by 7.3% in the 2nd quarter. Zacks Investment Management now owns 51,886 shares of the auto parts company’s stock valued at $1,823,000 after buying an additional 3,526 shares during the last quarter. Wells Fargo & Company MN raised its position in Stoneridge by 6.2% in the 1st quarter. Wells Fargo & Company MN now owns 65,274 shares of the auto parts company’s stock valued at $1,802,000 after buying an additional 3,782 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Stoneridge in the 1st quarter valued at $113,000. 89.04% of the stock is owned by institutional investors and hedge funds.

About Stoneridge

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

Read More: What do investors mean by earnings per share?

Analyst Recommendations for Stoneridge (NYSE:SRI)

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