Stoneridge Inc. (SRI) Receives $16.75 Consensus Target Price from Brokerages
Stoneridge Inc. (NYSE:SRI) has earned an average rating of “Hold” from the six research firms that are covering the firm. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $16.75.
Several brokerages have commented on SRI. Zacks Investment Research lowered shares of Stoneridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 5th. B. Riley restated a “buy” rating and issued a $19.00 price objective on shares of Stoneridge in a report on Tuesday, August 9th. Finally, FBR & Co restated a “hold” rating and issued a $13.00 price objective on shares of Stoneridge in a report on Thursday, August 4th.
Stoneridge (NYSE:SRI) opened at 18.30 on Monday. The company has a market cap of $509.51 million, a P/E ratio of 15.95 and a beta of 1.95. Stoneridge has a 1-year low of $10.51 and a 1-year high of $19.20. The stock’s 50 day moving average is $18.14 and its 200 day moving average is $16.24.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.09. Stoneridge had a net margin of 4.84% and a return on equity of 30.33%. The company earned $186.90 million during the quarter, compared to analyst estimates of $184.91 million. During the same period in the prior year, the business posted $0.25 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Equities analysts anticipate that Stoneridge will post $1.37 earnings per share for the current fiscal year.
In other news, VP Richard P. Adante sold 18,979 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $17.64, for a total value of $334,789.56. Following the sale, the vice president now directly owns 61,532 shares of the company’s stock, valued at approximately $1,085,424.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas A. Beaver sold 40,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $18.25, for a total transaction of $730,000.00. Following the completion of the sale, the vice president now directly owns 85,667 shares in the company, valued at $1,563,422.75. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in SRI. Algert Global LLC increased its stake in Stoneridge by 19.8% in the third quarter. Algert Global LLC now owns 75,142 shares of the company’s stock worth $1,383,000 after buying an additional 12,407 shares in the last quarter. Royal Bank of Canada increased its stake in Stoneridge by 103.9% in the second quarter. Royal Bank of Canada now owns 20,952 shares of the company’s stock worth $313,000 after buying an additional 10,676 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in Stoneridge during the second quarter worth $492,000. Metropolitan Life Insurance Co. NY increased its stake in Stoneridge by 4.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 20,520 shares of the company’s stock worth $307,000 after buying an additional 954 shares in the last quarter. Finally, Numeric Investors LLC acquired a new stake in Stoneridge during the second quarter worth $385,000. 85.24% of the stock is currently 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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