Stoneridge, Inc. (SRI) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Stoneridge, Inc. (NYSE:SRI) from a buy rating to a hold rating in a report issued on Thursday morning.
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. “
SRI has been the topic of a number of other research reports. 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, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $18.67.
Shares of Stoneridge (NYSE SRI) opened at 21.38 on Thursday. The company has a market capitalization of $602.25 million, a PE ratio of 7.91 and a beta of 1.44. Stoneridge has a 12 month low of $13.42 and a 12 month high of $22.34. The firm has a 50-day moving average price of $17.92 and a 200-day moving average price of $16.93.
Stoneridge (NYSE:SRI) last posted its quarterly earnings data 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. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. The firm had revenue of $209.10 million for the quarter, compared to analyst estimates of $202.45 million. During the same quarter last year, the company earned $0.41 EPS. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Stoneridge will post $1.46 EPS for the current year.
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In other Stoneridge news, VP Michael D. Sloan sold 30,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $16.30, for a total transaction of $489,000.00. Following the transaction, the vice president now owns 34,223 shares in the company, valued at approximately $557,834.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $16.51, for a total value of $121,480.58. Following the transaction, the insider now owns 37,281 shares in the company, valued at approximately $615,509.31. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Royce & Associates LP increased its stake in shares of Stoneridge by 343.7% in the 2nd quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock valued at $19,043,000 after purchasing an additional 957,237 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Stoneridge by 33.4% in the 2nd quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock valued at $12,877,000 after purchasing an additional 209,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Stoneridge by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock valued at $27,063,000 after purchasing an additional 207,761 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in shares of Stoneridge in the 2nd quarter valued at $2,732,000. Finally, Walthausen & Co. LLC increased its stake in shares of Stoneridge by 24.0% in the 2nd quarter. Walthausen & Co. LLC now owns 678,270 shares of the auto parts company’s stock valued at $10,452,000 after purchasing an additional 131,490 shares during the last quarter. Hedge funds and other institutional investors own 87.83% 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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