ValuEngine upgraded shares of Stoneridge (NYSE:SRI) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday.
A number of other equities research analysts also recently weighed in on the company. KeyCorp reiterated a hold rating on shares of Stoneridge in a report on Friday, November 17th. Zacks Investment Research upgraded Stoneridge from a hold rating to a buy rating and set a $25.00 price objective for the company in a report on Thursday, November 9th. Finally, B. Riley restated a neutral rating on shares of Stoneridge in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $23.50.
Shares of Stoneridge (NYSE SRI) opened at $22.77 on Friday. The firm has a market capitalization of $643.99, a P/E ratio of 8.69 and a beta of 1.45. 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 $14.16 and a 1-year high of $25.33.
Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.04. The business had revenue of $203.60 million during the quarter, compared to the consensus estimate of $192.80 million. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. equities analysts anticipate that Stoneridge will post 1.5 EPS for the current year.
In other news, VP Thomas A. Beaver sold 49,779 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $21.51, for a total transaction of $1,070,746.29. Following the completion of the sale, the vice president now owns 76,529 shares in the company, valued at $1,646,138.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its holdings in shares of Stoneridge by 112.8% during the third quarter. GSA Capital Partners LLP now owns 72,215 shares of the auto parts company’s stock valued at $1,431,000 after acquiring an additional 38,276 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Stoneridge by 5.7% during the third quarter. California Public Employees Retirement System now owns 126,157 shares of the auto parts company’s stock valued at $2,499,000 after buying an additional 6,757 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Stoneridge during the third quarter valued at approximately $206,000. Segall Bryant & Hamill LLC boosted its position in shares of Stoneridge by 5.7% during the third quarter. Segall Bryant & Hamill LLC now owns 115,773 shares of the auto parts company’s stock valued at $2,293,000 after buying an additional 6,237 shares during the last quarter. Finally, NWQ Investment Management Company LLC boosted its position in shares of Stoneridge by 1.7% during the third quarter. NWQ Investment Management Company LLC now owns 2,037,198 shares of the auto parts company’s stock valued at $40,357,000 after buying an additional 33,240 shares during the last quarter. Hedge funds and other institutional investors own 86.98% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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