Stoneridge, Inc. (NYSE:SRI) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $31.00.
A number of analysts recently issued reports on the stock. Barrington Research reissued a “buy” rating and set a $50.00 price target on shares of Stoneridge in a report on Tuesday, July 31st. Buckingham Research initiated coverage on shares of Stoneridge in a report on Wednesday, June 20th. They set a “buy” rating and a $37.00 price objective on the stock. ValuEngine raised shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Finally, Zacks Investment Research downgraded shares of Stoneridge from a “hold” rating to a “sell” rating in a report on Thursday, October 4th.
Shares of NYSE SRI opened at $27.84 on Friday. Stoneridge has a 1 year low of $20.63 and a 1 year high of $37.69. The firm has a market cap of $846.51 million, a P/E ratio of 17.73, a PEG ratio of 1.70 and a beta of 1.06. The company has a current ratio of 2.13, a quick ratio of 1.59 and a debt-to-equity ratio of 0.43.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, August 1st. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. Stoneridge had a net margin of 6.52% and a return on equity of 21.43%. The firm had revenue of $220.60 million for the quarter, compared to the consensus estimate of $220.40 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Stoneridge will post 2.05 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of SRI. United Services Automobile Association purchased a new position in shares of Stoneridge in the second quarter worth about $252,000. Northern Trust Corp lifted its stake in shares of Stoneridge by 9.4% in the second quarter. Northern Trust Corp now owns 374,474 shares of the auto parts company’s stock worth $13,159,000 after buying an additional 32,182 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Stoneridge in the second quarter worth about $453,000. Zacks Investment Management lifted its stake in shares of Stoneridge by 7.3% in the second quarter. Zacks Investment Management now owns 51,886 shares of the auto parts company’s stock worth $1,823,000 after buying an additional 3,526 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in shares of Stoneridge by 384.1% in the second quarter. Macquarie Group Ltd. now owns 21,300 shares of the auto parts company’s stock worth $748,000 after buying an additional 16,900 shares in the last quarter. 89.04% of the stock is currently owned by institutional investors and hedge funds.
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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