Stoneridge’s (SRI) “Hold” Rating Reiterated at KeyCorp
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Stoneridge from a buy rating to a hold rating in a report on Thursday, October 5th. BidaskClub cut Stoneridge from a sell rating to a strong sell rating in a report on Friday, August 4th. Finally, ValuEngine raised Stoneridge from a hold rating to a buy rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $18.67.
Stoneridge (SRI) opened at 22.12 on Friday. Stoneridge has a 52-week low of $13.42 and a 52-week high of $22.34. The company has a market capitalization of $623.10 million, a PE ratio of 8.19 and a beta of 1.44. The company has a 50 day moving average of $18.81 and a 200 day moving average of $17.04.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results 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 company had revenue of $209.10 million for the quarter, compared to analysts’ expectations of $202.45 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Stoneridge will post $1.46 earnings per share for the current fiscal year.
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In related news, VP Michael D. Sloan sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $16.30, for a total value of $489,000.00. Following the transaction, the vice president now directly owns 34,223 shares of the company’s stock, valued at approximately $557,834.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the insider now directly owns 37,281 shares in the company, valued at $615,509.31. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SRI. Legal & General Group Plc raised its holdings in shares of Stoneridge by 12.2% during the 1st quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock worth $128,000 after acquiring an additional 772 shares in the last quarter. CAPROCK Group Inc. purchased a new stake in shares of Stoneridge during the 2nd quarter worth approximately $157,000. Eqis Capital Management Inc. purchased a new stake in shares of Stoneridge during the 2nd quarter worth approximately $162,000. Citadel Advisors LLC purchased a new stake in shares of Stoneridge during the 1st quarter worth approximately $208,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Stoneridge during the 2nd quarter worth approximately $217,000. 87.79% of the stock is currently owned by 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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