Brokerages Set Stoneridge, Inc. (SRI) Target Price at $31.00

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.

About Stoneridge

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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Analyst Recommendations for Stoneridge (NYSE:SRI)

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