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.
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.
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.
Receive News & Ratings for Stoneridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge and related companies with MarketBeat.com's FREE daily email newsletter.