Stoneridge, Inc. (NYSE:SRI) 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 sale, the vice president now owns 76,529 shares of the company’s stock, valued at approximately $1,646,138.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Stoneridge, Inc. (NYSE SRI) opened at $21.76 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. Stoneridge, Inc. has a fifty-two week low of $14.16 and a fifty-two week high of $22.99. The stock has a market capitalization of $607.93, a PE ratio of 14.39 and a beta of 1.48.
Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $192.80 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. research analysts expect that Stoneridge, Inc. will post 1.51 earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Stoneridge from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Thursday, November 9th. B. Riley reiterated a “neutral” rating on shares of Stoneridge in a report on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of Stoneridge in a report on Sunday, October 15th. Finally, BidaskClub cut Stoneridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.50.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. boosted its holdings in Stoneridge by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 112,389 shares of the auto parts company’s stock worth $1,732,000 after acquiring an additional 627 shares during the period. Horizon Investment Services LLC boosted its holdings in Stoneridge by 0.6% in the 2nd quarter. Horizon Investment Services LLC now owns 110,869 shares of the auto parts company’s stock worth $1,708,000 after acquiring an additional 713 shares during the period. Legal & General Group Plc boosted its holdings in Stoneridge by 12.2% in the 1st quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock worth $128,000 after acquiring an additional 772 shares during the period. Alliancebernstein L.P. boosted its holdings in Stoneridge by 0.8% in the 1st quarter. Alliancebernstein L.P. now owns 109,790 shares of the auto parts company’s stock worth $1,992,000 after acquiring an additional 900 shares during the period. Finally, American International Group Inc. boosted its holdings in Stoneridge by 7.0% in the 1st quarter. American International Group Inc. now owns 16,522 shares of the auto parts company’s stock worth $300,000 after acquiring an additional 1,087 shares during the period. Hedge funds and other institutional investors own 86.23% 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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