According to Zacks, “Stoneridge Inc. is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. Their products interface with a vehicle’s mechanical and electrical systems to activate equipment and accessories, display and monitor vehicle performance, and control and distribute electrical power and signals. “
Several other brokerages have also recently weighed in on SRI. ValuEngine raised shares of Stoneridge from a hold rating to a buy rating in a report on Tuesday, July 2nd. Citigroup reiterated an average rating on shares of Stoneridge in a research note on Tuesday, May 7th. Finally, Barrington Research reiterated a buy rating and issued a $35.00 price target on shares of Stoneridge in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Stoneridge currently has a consensus rating of Buy and a consensus price target of $34.00.
Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, July 31st. The auto parts company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.10. The firm had revenue of $222.24 million for the quarter, compared to analysts’ expectations of $203.81 million. Stoneridge had a net margin of 8.69% and a return on equity of 17.95%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. As a group, equities analysts anticipate that Stoneridge will post 1.62 EPS for the current fiscal year.
In other news, VP Thomas A. Beaver sold 21,093 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $26.49, for a total transaction of $558,753.57. Following the transaction, the vice president now directly owns 53,001 shares in the company, valued at $1,403,996.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Anthony L. Moore sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $26.50, for a total transaction of $185,500.00. Following the transaction, the vice president now owns 15,082 shares in the company, valued at $399,673. The disclosure for this sale can be found here. Insiders sold 33,694 shares of company stock worth $905,282 over the last quarter. 4.20% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SRI. Quantinno Capital Management LP purchased a new position in Stoneridge in the 1st quarter valued at $650,000. James Investment Research Inc. grew its position in Stoneridge by 4.6% in the 2nd quarter. James Investment Research Inc. now owns 29,675 shares of the auto parts company’s stock valued at $936,000 after buying an additional 1,295 shares during the last quarter. WINTON GROUP Ltd grew its position in Stoneridge by 116.6% in the 2nd quarter. WINTON GROUP Ltd now owns 17,352 shares of the auto parts company’s stock valued at $547,000 after buying an additional 9,342 shares during the last quarter. New York State Common Retirement Fund grew its position in Stoneridge by 14.0% in the 1st quarter. New York State Common Retirement Fund now owns 36,450 shares of the auto parts company’s stock valued at $1,052,000 after buying an additional 4,487 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in Stoneridge in the 4th quarter valued at $585,000. Institutional investors and hedge funds own 94.86% of the company’s stock.
Stoneridge Company Profile
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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