Stoneridge (NYSE:SRI) Posts Earnings Results, Misses Estimates By $0.01 EPS

Stoneridge (NYSE:SRI) issued its quarterly earnings results on Wednesday. The auto parts company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01), FiscalAI reports. The firm had revenue of $180.00 million for the quarter, compared to analysts’ expectations of $178.73 million. Stoneridge had a negative net margin of 15.64% and a negative return on equity of 24.91%.

Stoneridge Stock Performance

Shares of NYSE:SRI traded down $0.07 during midday trading on Wednesday, reaching $5.72. 178,113 shares of the company traded hands, compared to its average volume of 206,159. The company has a quick ratio of 1.27, a current ratio of 1.89 and a debt-to-equity ratio of 1.01. Stoneridge has a 12 month low of $4.60 and a 12 month high of $9.71. The firm has a market capitalization of $163.16 million, a price-to-earnings ratio of -1.34 and a beta of 1.99. The firm’s fifty day moving average price is $6.61 and its two-hundred day moving average price is $6.90.

Insider Activity

In related news, CEO Natalia Noblet purchased 5,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $7.31 per share, for a total transaction of $36,550.00. Following the completion of the transaction, the chief executive officer directly owned 5,000 shares in the company, valued at approximately $36,550. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Scott Humphrey purchased 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were bought at an average price of $7.01 per share, for a total transaction of $42,060.00. Following the completion of the transaction, the chief financial officer owned 6,000 shares of the company’s stock, valued at approximately $42,060. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 11.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research raised shares of Stoneridge from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a research note on Monday, September 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Stoneridge currently has an average rating of “Reduce”.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global designer and manufacturer of highly engineered electrical and electronic systems for the automotive, commercial vehicle and off-highway vehicle markets. The company develops technologies intended to improve vehicle safety, efficiency, connectivity and the driver experience.

Its products include electronic instrument clusters and driver-information systems, vehicle controls and switches, sensors, wiring and connectivity solutions, telematics systems, and camera-based vision technologies.