Zacks Investment Research upgraded shares of Stoneridge, Inc. (NYSE:SRI) from a hold rating to a buy rating in a research note published on Thursday. They currently have $25.00 price objective on the stock.
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. “
Several other equities research analysts have also recently commented on SRI. B. Riley reissued a neutral rating on shares of Stoneridge in a research report on Friday, November 3rd. KeyCorp reissued a hold rating on shares of Stoneridge in a research report on Sunday, October 15th. Finally, BidaskClub cut shares of Stoneridge from a sell rating to a strong sell rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Stoneridge presently has an average rating of Hold and a consensus price target of C$23.50.
Stoneridge (NYSE:SRI) traded up C$0.08 on Thursday, reaching C$21.58. 120,584 shares of the company traded hands, compared to its average volume of 164,597. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. Stoneridge has a 1-year low of C$14.16 and a 1-year high of C$22.99. The company has a market cap of $607.93, a PE ratio of 14.39 and a beta of 1.48.
Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, November 1st. The company reported C$0.36 EPS for the quarter, topping the consensus estimate of C$0.32 by C$0.04. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The firm had revenue of C$203.60 million for the quarter, compared to analysts’ expectations of C$192.80 million. During the same period in the previous year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. equities research analysts predict that Stoneridge will post 1.51 EPS for the current fiscal year.
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In other news, insider Robert J. Jr. Hartman sold 7,358 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of C$16.51, for a total value of C$121,480.58. Following the sale, the insider now directly owns 37,281 shares of the company’s stock, valued at approximately C$615,509.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael D. Sloan sold 30,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of C$16.30, for a total transaction of C$489,000.00. Following the completion of the sale, the vice president now directly owns 34,223 shares in the company, valued at C$557,834.90. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of Stoneridge by 12.2% in the 1st quarter. Legal & General Group Plc now owns 7,077 shares of the company’s stock valued at $128,000 after purchasing an additional 772 shares during the period. CAPROCK Group Inc. bought a new stake in shares of Stoneridge in the 2nd quarter valued at about $157,000. Eqis Capital Management Inc. bought a new stake in shares of Stoneridge in the 2nd quarter valued at about $162,000. Nine Chapters Capital Management LLC bought a new stake in shares of Stoneridge in the 3rd quarter valued at about $216,000. Finally, SG Americas Securities LLC acquired a new position in Stoneridge in the 2nd quarter valued at about $217,000. 87.64% of the stock is currently owned by 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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