Stoneridge, Inc. (NYSE:SRI) Upgraded to Buy by Zacks Investment Research

Stoneridge, Inc. (NYSE:SRI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, November 9th. The brokerage presently has a $25.00 price target on the auto parts company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.18% from the stock’s previous close.

According to Zacks, “Stoneridge Inc. is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. Their products interface with a vehicle’s mechanical and electrical systems to activate equipment and accessories, display and monitor vehicle performance, and control and distribute electrical power and signals. “

A number of other analysts also recently commented on SRI. KeyCorp reissued a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. B. Riley restated a “neutral” rating on shares of Stoneridge in a report on Friday, November 3rd. Finally, BidaskClub cut Stoneridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $23.50.

Shares of Stoneridge (NYSE:SRI) opened at $22.69 on Thursday. 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 stock has a market capitalization of $640.90, a P/E ratio of 14.98 and a beta of 1.47. Stoneridge has a 1-year low of $14.16 and a 1-year high of $23.12.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. The firm had revenue of $203.60 million for the quarter, compared to the consensus estimate of $192.80 million. During the same quarter in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts forecast that Stoneridge will post 1.49 earnings per share for the current year.

In other Stoneridge news, insider Robert J. Jr. Hartman sold 7,358 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 37,281 shares of the company’s stock, valued at $615,509.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas A. Beaver sold 49,779 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $21.51, for a total value of $1,070,746.29. Following the completion of the sale, the vice president now directly owns 76,529 shares of the company’s stock, valued at approximately $1,646,138.79. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc lifted its position 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 purchasing an additional 772 shares during the last quarter. CAPROCK Group Inc. bought a new position in Stoneridge during the second quarter valued at about $157,000. Eqis Capital Management Inc. bought a new position in Stoneridge during the second quarter valued at about $162,000. Highbridge Capital Management LLC bought a new position in Stoneridge during the third quarter valued at about $206,000. Finally, Nine Chapters Capital Management LLC bought a new position in Stoneridge during the third quarter valued at about $216,000. 87.17% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This report was first posted by BBNS and is the property of of BBNS. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://baseballnewssource.com/markets/stoneridge-inc-sri-stock-rating-upgraded-by-zacks-investment-research/1767876.html.

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.

Get a free copy of the Zacks research report on Stoneridge (SRI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Stoneridge Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Stephen Strasburg May Skip All-Star Games in the Future
Stephen Strasburg May Skip All-Star Games in the Future
Phillies Sign Free Agent Carlos Santana
Phillies Sign Free Agent Carlos Santana
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks


Leave a Reply

 
© 2006-2017 BBNS.