Shares of Stoneridge, Inc. (NYSE:SRI) were down 4.2% during mid-day trading on Thursday . The company traded as low as $28.13 and last traded at $28.65. Approximately 1,710 shares changed hands during trading, a decline of 99% from the average daily volume of 127,282 shares. The stock had previously closed at $29.90.
A number of equities research analysts have recently issued reports on SRI shares. CL King downgraded shares of Stoneridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 26th. Zacks Investment Research downgraded shares of Stoneridge from a “hold” rating to a “sell” rating in a research report on Wednesday, March 3rd. Finally, Barrington Research upgraded shares of Stoneridge from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Tuesday, March 2nd.
The company has a current ratio of 2.40, a quick ratio of 1.74 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average price is $33.12 and its two-hundred day moving average price is $28.15. The firm has a market capitalization of $783.15 million, a PE ratio of -100.46 and a beta of 1.58.
In other Stoneridge news, CEO Jonathan B. Degaynor sold 10,000 shares of Stoneridge stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $29.93, for a total value of $299,300.00. Following the completion of the sale, the chief executive officer now directly owns 136,208 shares of the company’s stock, valued at approximately $4,076,705.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.60% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in SRI. California Public Employees Retirement System grew its stake in Stoneridge by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 59,335 shares of the auto parts company’s stock worth $1,090,000 after acquiring an additional 1,900 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Stoneridge by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 258,648 shares of the auto parts company’s stock worth $4,752,000 after acquiring an additional 2,866 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Stoneridge in the 3rd quarter valued at $695,000. Cubist Systematic Strategies LLC acquired a new position in shares of Stoneridge in the 3rd quarter valued at $606,000. Finally, Brinker Capital Investments LLC acquired a new position in shares of Stoneridge in the 3rd quarter valued at $515,000. 95.31% of the stock is owned by hedge funds and other institutional investors.
Stoneridge Company Profile (NYSE:SRI)
Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates in three segments: Control Devices, Electronics, and Stoneridge Brazil.
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