Stoneridge (NYSE:SRI) Announces Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Stoneridge (NYSE:SRI) announced its quarterly earnings data on Wednesday. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.26), FiscalAI reports. The firm had revenue of $181.38 million for the quarter, compared to analysts’ expectations of $161.85 million. Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%.

Stoneridge Stock Performance

SRI stock traded down $0.29 during trading on Thursday, reaching $7.17. The stock had a trading volume of 71,818 shares, compared to its average volume of 225,943. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00. The firm has a market cap of $202.48 million, a PE ratio of -1.63 and a beta of 1.85. The stock’s 50 day moving average is $7.28 and its two-hundred day moving average is $6.99. Stoneridge has a 52 week low of $4.60 and a 52 week high of $9.71.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SRI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. Zacks Research upgraded shares of Stoneridge from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $16.00.

Insiders Place Their Bets

In related news, Director William M. Lasky acquired 5,000 shares of Stoneridge stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $7.46 per share, for a total transaction of $37,300.00. Following the purchase, the director directly owned 192,666 shares of the company’s stock, valued at approximately $1,437,288.36. This trade represents a 2.66% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ira C. Kaplan acquired 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average cost of $7.54 per share, for a total transaction of $37,700.00. Following the completion of the transaction, the director owned 100,046 shares in the company, valued at approximately $754,346.84. This represents a 5.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of Stoneridge by 285.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock worth $3,948,000 after acquiring an additional 383,805 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Stoneridge by 213.7% during the 1st quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock worth $2,449,000 after acquiring an additional 363,407 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Stoneridge by 50.0% during the fourth quarter. Russell Investments Group Ltd. now owns 575,670 shares of the auto parts company’s stock valued at $3,333,000 after purchasing an additional 191,953 shares during the period. Marshall Wace LLP grew its stake in Stoneridge by 186.7% in the 2nd quarter. Marshall Wace LLP now owns 293,987 shares of the auto parts company’s stock worth $2,070,000 after acquiring an additional 191,444 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Stoneridge by 55.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock valued at $2,250,000 after purchasing an additional 175,736 shares in the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Company Profile

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.