Stoneridge (SRI) Sees Unusually-High Trading Volume
Stoneridge, Inc. (NYSE:SRI) saw an uptick in trading volume on Tuesday . 959,607 shares changed hands during mid-day trading, an increase of 501% from the previous session’s volume of 159,667 shares.The stock last traded at $23.99 and had previously closed at $21.34.
A number of brokerages recently weighed in on SRI. KeyCorp reaffirmed a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. B. Riley reaffirmed a “neutral” rating on shares of Stoneridge in a research note on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Stoneridge from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $23.50.
The stock has a market cap of $675.83, a P/E ratio of 15.99 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.24 and a quick ratio of 1.65.
In other Stoneridge news, VP Thomas A. Beaver sold 49,779 shares of Stoneridge stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $21.51, for a total transaction of $1,070,746.29. Following the transaction, the vice president now directly owns 76,529 shares of the company’s stock, valued at $1,646,138.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP raised its stake in shares of Stoneridge by 112.8% during the third quarter. GSA Capital Partners LLP now owns 72,215 shares of the auto parts company’s stock worth $1,431,000 after acquiring an additional 38,276 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Stoneridge by 5.7% in the third quarter. California Public Employees Retirement System now owns 126,157 shares of the auto parts company’s stock worth $2,499,000 after purchasing an additional 6,757 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Stoneridge in the third quarter worth approximately $206,000. Segall Bryant & Hamill LLC grew its holdings in shares of Stoneridge by 5.7% in the third quarter. Segall Bryant & Hamill LLC now owns 115,773 shares of the auto parts company’s stock worth $2,293,000 after purchasing an additional 6,237 shares during the last quarter. Finally, NWQ Investment Management Company LLC grew its holdings in shares of Stoneridge by 1.7% in the third quarter. NWQ Investment Management Company LLC now owns 2,037,198 shares of the auto parts company’s stock worth $40,357,000 after purchasing an additional 33,240 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
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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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