Stoneridge, Inc. (SRI) Given Average Rating of “Hold” by Brokerages

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Stoneridge, Inc. (NYSE:SRI) has received a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $35.60.

A number of equities research analysts recently issued reports on the company. Barrington Research restated a “buy” rating and issued a $50.00 price objective on shares of Stoneridge in a research note on Tuesday, July 31st. ValuEngine upgraded Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Zacks Investment Research cut Stoneridge from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Buckingham Research lowered their price objective on Stoneridge from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, October 3rd. Finally, Stephens set a $35.00 price objective on Stoneridge and gave the company a “buy” rating in a research note on Tuesday, October 30th.

Stoneridge stock traded up $0.54 during midday trading on Wednesday, reaching $25.99. The stock had a trading volume of 161,600 shares, compared to its average volume of 271,347. Stoneridge has a 12 month low of $20.78 and a 12 month high of $37.69. The stock has a market capitalization of $726.64 million, a P/E ratio of 16.62, a P/E/G ratio of 1.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.60 and a current ratio of 2.20.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Friday, October 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. Stoneridge had a return on equity of 21.77% and a net margin of 7.09%. The business had revenue of $208.90 million for the quarter, compared to analysts’ expectations of $204.36 million. During the same period in the previous year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts forecast that Stoneridge will post 2.04 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Systematic Financial Management LP grew its holdings in Stoneridge by 1.5% during the 3rd quarter. Systematic Financial Management LP now owns 506,546 shares of the auto parts company’s stock valued at $15,055,000 after buying an additional 7,707 shares in the last quarter. WINTON GROUP Ltd grew its holdings in Stoneridge by 23.2% during the 3rd quarter. WINTON GROUP Ltd now owns 20,419 shares of the auto parts company’s stock valued at $607,000 after buying an additional 3,843 shares in the last quarter. American Century Companies Inc. grew its holdings in Stoneridge by 1.3% during the 3rd quarter. American Century Companies Inc. now owns 235,051 shares of the auto parts company’s stock valued at $6,986,000 after buying an additional 3,003 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in Stoneridge by 34.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 9,528 shares of the auto parts company’s stock valued at $283,000 after buying an additional 2,466 shares in the last quarter. Finally, USA Financial Portformulas Corp purchased a new position in Stoneridge during the 3rd quarter valued at about $105,000. 91.96% of the stock is 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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