Stoneridge (SRI) Downgraded by ValuEngine

ValuEngine lowered shares of Stoneridge (NYSE:SRI) from a strong-buy rating to a buy rating in a report published on Wednesday, May 2nd.

A number of other analysts have also recently commented on the company. Barrington Research set a $35.00 price objective on Stoneridge and gave the company a buy rating in a research report on Tuesday, May 1st. CL King initiated coverage on Stoneridge in a research note on Monday, April 23rd. They set a buy rating and a $34.00 price objective on the stock. Stephens raised Stoneridge from an equal rating to a weight rating in a research note on Tuesday, March 20th. B. Riley boosted their price objective on Stoneridge from $21.00 to $24.00 and gave the company a neutral rating in a report on Tuesday, March 6th. Finally, Zacks Investment Research upgraded Stoneridge from a hold rating to a strong-buy rating and set a $27.00 price objective on the stock in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $30.00.

Shares of SRI stock opened at $31.59 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.65 and a current ratio of 2.19. The stock has a market cap of $899.26 million, a P/E ratio of 20.12, a P/E/G ratio of 1.76 and a beta of 1.10. Stoneridge has a 1-year low of $30.51 and a 1-year high of $30.92.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, May 2nd. The auto parts company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $225.90 million during the quarter, compared to the consensus estimate of $213.94 million. Stoneridge had a return on equity of 20.81% and a net margin of 5.89%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. equities analysts anticipate that Stoneridge will post 2.11 earnings per share for the current fiscal year.

In other Stoneridge news, CAO Robert J. Jr. Hartman sold 6,393 shares of the firm’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $27.86, for a total transaction of $178,108.98. Following the completion of the transaction, the chief accounting officer now owns 37,281 shares of the company’s stock, valued at $1,038,648.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan B. Degaynor sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $29.90, for a total value of $897,000.00. Following the sale, the insider now owns 79,122 shares in the company, valued at approximately $2,365,747.80. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of SRI. Pembroke Management LTD acquired a new position in Stoneridge in the fourth quarter valued at $7,226,000. Driehaus Capital Management LLC acquired a new position in shares of Stoneridge during the fourth quarter worth about $5,765,000. TIAA CREF Investment Management LLC lifted its stake in shares of Stoneridge by 155.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 294,305 shares of the auto parts company’s stock worth $6,728,000 after purchasing an additional 178,989 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Stoneridge by 92.4% during the first quarter. Millennium Management LLC now owns 246,708 shares of the auto parts company’s stock worth $6,809,000 after purchasing an additional 118,463 shares in the last quarter. Finally, EAM Investors LLC acquired a new position in shares of Stoneridge during the fourth quarter worth about $2,389,000. Hedge funds and other institutional investors own 90.06% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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