Stoneridge (NYSE:SRI) Shares Gap Down to $28.05

Shares of Stoneridge, Inc. (NYSE:SRI) gapped down prior to trading on Thursday . The stock had previously closed at $28.05, but opened at $27.18. Stoneridge shares last traded at $27.18, with a volume of 54 shares.

Several research analysts have recently issued reports on SRI shares. Barrington Research raised Stoneridge from a “market perform” rating to an “outperform” rating in a research note on Monday, April 26th. Zacks Investment Research downgraded Stoneridge from a “hold” rating to a “sell” rating in a research note on Thursday, June 17th.

The stock has a market capitalization of $738.21 million, a price-to-earnings ratio of -63.21 and a beta of 1.44. The business’s 50-day moving average is $30.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 2.37.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, April 28th. The auto parts company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.09. Stoneridge had a negative net margin of 1.72% and a negative return on equity of 1.70%. The company had revenue of $193.80 million during the quarter, compared to the consensus estimate of $176.82 million. During the same quarter last year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts forecast that Stoneridge, Inc. will post 0.48 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fort Pitt Capital Group LLC bought a new position in Stoneridge during the 4th quarter valued at $36,000. Sowell Financial Services LLC bought a new stake in shares of Stoneridge during the 1st quarter worth $54,000. Victory Capital Management Inc. bought a new stake in shares of Stoneridge during the 1st quarter worth $120,000. Royal Bank of Canada raised its stake in shares of Stoneridge by 45.5% during the 1st quarter. Royal Bank of Canada now owns 4,027 shares of the auto parts company’s stock worth $129,000 after purchasing an additional 1,260 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Stoneridge by 243.1% during the 4th quarter. Citigroup Inc. now owns 6,179 shares of the auto parts company’s stock worth $187,000 after purchasing an additional 4,378 shares during the period. Institutional investors own 94.64% of the company’s stock.

About Stoneridge (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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