Stoneridge, Inc. (SRI) Earns Neutral Rating from B. Riley
A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded Stoneridge from a strong sell rating to a hold rating in a report on Tuesday, July 11th. BidaskClub lowered Stoneridge from a sell rating to a strong sell rating in a report on Friday, August 4th. Finally, KeyCorp restated a hold rating on shares of Stoneridge in a report on Sunday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Stoneridge currently has an average rating of Hold and a consensus price target of $19.50.
Shares of Stoneridge (SRI) traded down $0.10 during mid-day trading on Friday, reaching $22.13. The company’s stock had a trading volume of 151,146 shares, compared to its average volume of 182,666. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. The stock has a market cap of $612.44, a price-to-earnings ratio of 14.82 and a beta of 1.47. Stoneridge has a 12 month low of $14.16 and a 12 month high of $22.99.
Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The company had revenue of $203.60 million for the quarter, compared to analyst estimates of $192.80 million. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. equities research analysts predict that Stoneridge will post 1.51 earnings per share for the current year.
In related news, insider Robert J. Jr. Hartman sold 7,358 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $16.51, for a total transaction of $121,480.58. Following the completion of the sale, the insider now directly owns 37,281 shares of the company’s stock, valued at approximately $615,509.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael D. Sloan sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.30, for a total value of $489,000.00. Following the sale, the vice president now directly owns 34,223 shares of the company’s stock, valued at $557,834.90. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Stoneridge by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 112,389 shares of the auto parts company’s stock worth $1,732,000 after purchasing an additional 627 shares during the last quarter. Horizon Investment Services LLC grew its position in Stoneridge by 0.6% in the 2nd quarter. Horizon Investment Services LLC now owns 110,869 shares of the auto parts company’s stock valued at $1,708,000 after acquiring an additional 713 shares in the last quarter. Legal & General Group Plc grew its position in Stoneridge by 12.2% in the 1st quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock valued at $128,000 after acquiring an additional 772 shares in the last quarter. Alliancebernstein L.P. grew its position in Stoneridge by 0.8% in the 1st quarter. Alliancebernstein L.P. now owns 109,790 shares of the auto parts company’s stock valued at $1,992,000 after acquiring an additional 900 shares in the last quarter. Finally, American International Group Inc. grew its position in Stoneridge by 7.0% in the 1st quarter. American International Group Inc. now owns 16,522 shares of the auto parts company’s stock valued at $300,000 after acquiring an additional 1,087 shares in the last quarter. 87.64% of the stock is owned by hedge funds and other 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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