Stoneridge (SRI) Upgraded at ValuEngine

Stoneridge (NYSE:SRI) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

SRI has been the topic of a number of other research reports. KeyCorp restated a “hold” rating on shares of Stoneridge in a research note on Friday, November 17th. Zacks Investment Research cut Stoneridge from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, B. Riley restated a “neutral” rating on shares of Stoneridge in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $23.50.

Stoneridge (SRI) traded down $0.53 on Friday, reaching $22.86. The company had a trading volume of 180,842 shares, compared to its average volume of 299,877. Stoneridge has a twelve month low of $14.16 and a twelve month high of $25.33. The company has a current ratio of 2.24, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. The company has a market cap of $643.99, a PE ratio of 8.73 and a beta of 1.45.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. The business had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $192.80 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts predict that Stoneridge will post 1.5 earnings per share for the current year.

In other Stoneridge news, VP Thomas A. Beaver sold 49,779 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $21.51, for a total transaction of $1,070,746.29. Following the transaction, the vice president now owns 76,529 shares in the company, valued at approximately $1,646,138.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of SRI. Renaissance Technologies LLC increased its position in Stoneridge by 33.4% during the 2nd quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock worth $12,877,000 after buying an additional 209,000 shares during the period. Dimensional Fund Advisors LP increased its position in Stoneridge by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock worth $27,063,000 after buying an additional 207,761 shares during the period. Kennedy Capital Management Inc. bought a new position in Stoneridge during the 2nd quarter worth $2,732,000. Walthausen & Co. LLC increased its position in Stoneridge by 24.0% during the 2nd quarter. Walthausen & Co. LLC now owns 678,270 shares of the auto parts company’s stock worth $10,452,000 after buying an additional 131,490 shares during the period. Finally, Adirondack Research & Management Inc. increased its position in Stoneridge by 152.1% during the 2nd quarter. Adirondack Research & Management Inc. now owns 182,594 shares of the auto parts company’s stock worth $2,814,000 after buying an additional 110,166 shares during the period. Hedge funds and other institutional investors own 86.98% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this story on another website, it was illegally copied and republished in violation of US and international copyright and trademark laws. The original version of this story can be accessed at https://www.chaffeybreeze.com/2018/01/01/stoneridge-sri-upgraded-at-valuengine.html.

About Stoneridge

Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.

Receive News & Ratings for Stoneridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply