Stoneridge (NYSE:SRI) Issues Earnings Results

Stoneridge (NYSE:SRI) posted its quarterly earnings data on Wednesday. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.55), FiscalAI reports. Stoneridge had a negative net margin of 3.66% and a negative return on equity of 8.78%. The firm had revenue of $205.15 million during the quarter, compared to analysts’ expectations of $211.70 million.

Stoneridge Price Performance

Shares of NYSE:SRI traded down $1.90 during midday trading on Thursday, hitting $5.76. 510,075 shares of the stock were exchanged, compared to its average volume of 181,790. The stock has a market cap of $161.48 million, a P/E ratio of -4.93 and a beta of 1.45. Stoneridge has a twelve month low of $3.54 and a twelve month high of $9.71. The company has a 50 day moving average price of $7.26 and a 200-day moving average price of $6.98. The company has a current ratio of 2.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Stoneridge presently has a consensus rating of “Hold” and an average target price of $16.00.

Institutional Trading of Stoneridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in Stoneridge in the first quarter worth about $39,000. Quadrature Capital Ltd bought a new position in Stoneridge during the 4th quarter valued at $61,000. NewEdge Advisors LLC bought a new position in shares of Stoneridge in the fourth quarter valued at $62,000. WINTON GROUP Ltd acquired a new stake in Stoneridge during the 4th quarter worth about $69,000. Finally, Jain Global LLC purchased a new position in Stoneridge during the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors own 98.07% of the company’s stock.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.