Stoneridge, Inc. (SRI) Expected to Post Quarterly Sales of $210.47 Million

Wall Street analysts expect that Stoneridge, Inc. (NYSE:SRI) will announce $210.47 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Stoneridge’s earnings, with the highest sales estimate coming in at $213.50 million and the lowest estimate coming in at $207.44 million. Stoneridge posted sales of $207.44 million in the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The firm is expected to issue its next earnings report on Wednesday, February 27th.

According to Zacks, analysts expect that Stoneridge will report full-year sales of $865.87 million for the current fiscal year, with estimates ranging from $862.83 million to $868.90 million. For the next fiscal year, analysts expect that the business will post sales of $899.72 million, with estimates ranging from $891.13 million to $908.30 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Stoneridge.

A number of equities research analysts recently commented on SRI shares. Zacks Investment Research lowered Stoneridge from a “hold” rating to a “sell” rating in a research report on Friday, January 11th. Stephens reaffirmed a “buy” rating and set a $31.00 target price on shares of Stoneridge in a research report on Sunday, January 6th. Buckingham Research set a $32.00 target price on Stoneridge and gave the company a “buy” rating in a research report on Friday, December 28th. Finally, Barrington Research reaffirmed a “buy” rating and set a $35.00 target price on shares of Stoneridge in a research report on Wednesday, January 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.20.

NYSE SRI traded up $0.19 on Wednesday, reaching $25.45. The company had a trading volume of 123,087 shares, compared to its average volume of 241,859. The firm has a market capitalization of $719.52 million, a P/E ratio of 16.21 and a beta of 1.01. Stoneridge has a 52-week low of $21.68 and a 52-week high of $37.69. The company has a current ratio of 2.20, a quick ratio of 1.60 and a debt-to-equity ratio of 0.38.

Institutional investors have recently made changes to their positions in the company. First Interstate Bank boosted its holdings in Stoneridge by 31.9% in the fourth quarter. First Interstate Bank now owns 4,868 shares of the auto parts company’s stock worth $120,000 after acquiring an additional 1,178 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Stoneridge by 34.9% in the third quarter. Wedge Capital Management L L P NC now owns 9,528 shares of the auto parts company’s stock worth $283,000 after purchasing an additional 2,466 shares during the last quarter. Credit Suisse AG increased its position in Stoneridge by 8.6% during the third quarter. Credit Suisse AG now owns 36,495 shares of the auto parts company’s stock valued at $1,086,000 after acquiring an additional 2,890 shares during the last quarter. First Quadrant L P CA boosted its stake in shares of Stoneridge by 47.1% in the third quarter. First Quadrant L P CA now owns 9,286 shares of the auto parts company’s stock worth $276,000 after acquiring an additional 2,974 shares during the period. Finally, USA Financial Portformulas Corp bought a new position in shares of Stoneridge in the third quarter worth about $105,000. 95.38% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Company Profile

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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