Stoneridge, Inc. (SRI) Sees Large Volume Increase
Shares of Stoneridge, Inc. (NYSE:SRI) saw an uptick in trading volume on Monday . 702,054 shares traded hands during trading, an increase of 354% from the previous session’s volume of 154,805 shares.The stock last traded at $22.20 and had previously closed at $21.63.
A number of research firms have recently commented on SRI. B. Riley reaffirmed a “neutral” rating on shares of Stoneridge in a research note on Friday, November 3rd. BidaskClub cut Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Zacks Investment Research raised Stoneridge from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, November 9th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $23.50.
The company has a current ratio of 2.24, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $625.40, a price-to-earnings ratio of 14.80 and a beta of 1.48.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $203.60 million during 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%. Stoneridge’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. analysts predict that Stoneridge, Inc. 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 business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 37,281 shares in the company, valued at $615,509.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas A. Beaver sold 49,779 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $21.51, for a total value of $1,070,746.29. Following the completion of the sale, the vice president now owns 76,529 shares of the company’s stock, valued at approximately $1,646,138.79. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of SRI. Legal & General Group Plc lifted its holdings in Stoneridge by 12.2% during the first quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock worth $128,000 after buying an additional 772 shares during the period. CAPROCK Group Inc. purchased a new stake in Stoneridge during the second quarter worth $157,000. Eqis Capital Management Inc. purchased a new stake in Stoneridge during the second quarter worth $162,000. Highbridge Capital Management LLC purchased a new stake in shares of Stoneridge during the 3rd quarter valued at $206,000. Finally, Nine Chapters Capital Management LLC purchased a new stake in shares of Stoneridge during the 3rd quarter valued at $216,000. Institutional investors own 87.17% of the company’s stock.
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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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