Stoneridge Inc. (SRI) Given Consensus Recommendation of “Buy” by Brokerages
Stoneridge Inc. (NYSE:SRI) has been assigned an average rating of “Buy” from the six ratings firms that are currently covering the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $17.60.
A number of equities research analysts have recently issued reports on the company. FBR & Co set a $17.00 target price on Stoneridge and gave the company a “hold” rating in a research note on Sunday, October 30th. B. Riley reiterated a “buy” rating and issued a $19.00 target price on shares of Stoneridge in a research note on Tuesday, August 9th. Finally, Zacks Investment Research upgraded Stoneridge from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Wednesday, August 3rd.
Shares of Stoneridge (NYSE:SRI) opened at 16.05 on Monday. The stock has a market cap of $446.86 million, a PE ratio of 12.93 and a beta of 1.49. The firm has a 50-day moving average price of $16.80 and a 200-day moving average price of $16.57. Stoneridge has a 52 week low of $10.51 and a 52 week high of $19.20.
Stoneridge (NYSE:SRI) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $173.80 million for the quarter, compared to the consensus estimate of $183.56 million. Stoneridge had a return on equity of 29.86% and a net margin of 5.19%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. On average, analysts forecast that Stoneridge will post $1.38 earnings per share for the current fiscal year.
In other Stoneridge news, VP Thomas A. Beaver sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 owns 85,667 shares in the company, valued at approximately $1,563,422.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Richard P. Adante sold 6,771 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $17.95, for a total value of $121,539.45. Following the sale, the vice president now owns 40,482 shares of the company’s stock, valued at approximately $726,651.90. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Stoneridge during the third quarter worth $2,212,000. Sawtooth Solutions LLC raised its position in shares of Stoneridge by 1.4% in the third quarter. Sawtooth Solutions LLC now owns 24,968 shares of the company’s stock valued at $459,000 after buying an additional 351 shares during the last quarter. Credit Suisse AG raised its position in shares of Stoneridge by 115.9% in the third quarter. Credit Suisse AG now owns 71,174 shares of the company’s stock valued at $1,309,000 after buying an additional 38,209 shares during the last quarter. B. Riley Financial Inc. purchased a new position in shares of Stoneridge during the third quarter valued at approximately $239,000. Finally, Horizon Investment Services LLC raised its position in shares of Stoneridge by 47.4% in the third quarter. Horizon Investment Services LLC now owns 123,385 shares of the company’s stock valued at $2,270,000 after buying an additional 39,655 shares during the last quarter. Hedge funds and other institutional investors own 86.55% of the company’s stock.
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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