Stoneridge’s (SRI) Hold Rating Reiterated at KeyCorp
A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Stoneridge from a buy rating to a hold rating in a research report on Thursday, October 5th. BidaskClub lowered shares of Stoneridge from a sell rating to a strong sell rating in a research report on Friday, August 4th. Finally, B. Riley restated a neutral rating on shares of Stoneridge in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $23.50.
Shares of Stoneridge (NYSE:SRI) opened at $21.63 on Friday. Stoneridge has a 52-week low of $14.16 and a 52-week high of $22.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.24 and a quick ratio of 1.65. The firm has a market cap of $609.34, a P/E ratio of 14.42 and a beta of 1.48.
Stoneridge (NYSE:SRI) last issued its earnings results 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. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The firm had revenue of $203.60 million for the quarter, compared to analyst estimates of $192.80 million. During the same quarter last year, the business posted $0.36 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. equities research analysts expect that Stoneridge will post 1.51 EPS for the current fiscal year.
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In other news, VP Thomas A. Beaver sold 49,779 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now 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 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 shares were sold at an average price of $16.51, for a total transaction of $121,480.58. Following the transaction, the insider now directly owns 37,281 shares of the company’s stock, valued at approximately $615,509.31. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its stake in shares of Stoneridge by 5.7% during the third quarter. California Public Employees Retirement System now owns 126,157 shares of the auto parts company’s stock valued at $2,499,000 after acquiring an additional 6,757 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Stoneridge during the third quarter valued at $206,000. Segall Bryant & Hamill LLC raised its stake in shares of Stoneridge by 5.7% during the third quarter. Segall Bryant & Hamill LLC now owns 115,773 shares of the auto parts company’s stock valued at $2,293,000 after acquiring an additional 6,237 shares during the last quarter. NWQ Investment Management Company LLC raised its stake in shares of Stoneridge by 1.7% during the third quarter. NWQ Investment Management Company LLC now owns 2,037,198 shares of the auto parts company’s stock valued at $40,357,000 after acquiring an additional 33,240 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Stoneridge by 0.8% during the third quarter. Royce & Associates LP now owns 1,246,116 shares of the auto parts company’s stock valued at $24,686,000 after acquiring an additional 10,379 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.
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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