Stoneridge (SRI) Posts Earnings Results

Stoneridge (NYSE:SRI) released its quarterly earnings results on Wednesday. The auto parts company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02, Briefing.com reports. Stoneridge had a return on equity of 20.81% and a net margin of 5.89%. The firm had revenue of $220.60 million for the quarter, compared to analyst estimates of $220.40 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue was up 5.5% on a year-over-year basis.

Shares of Stoneridge traded up $0.86, hitting $34.82, on Thursday, MarketBeat Ratings reports. 425,900 shares of the company’s stock traded hands, compared to its average volume of 270,941. Stoneridge has a one year low of $15.84 and a one year high of $37.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.65. The firm has a market cap of $968.17 million, a price-to-earnings ratio of 22.18, a PEG ratio of 1.90 and a beta of 1.02.

SRI has been the topic of several research analyst reports. Buckingham Research initiated coverage on Stoneridge in a research report on Wednesday, June 20th. They set a “buy” rating and a $37.00 target price on the stock. Barrington Research set a $35.00 target price on Stoneridge and gave the company a “buy” rating in a research report on Friday, June 1st. ValuEngine lowered Stoneridge from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, CL King initiated coverage on Stoneridge in a research report on Monday, April 23rd. They set a “buy” rating and a $34.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $34.40.

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

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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Earnings History for Stoneridge (NYSE:SRI)

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