Stoneridge, Inc. (NYSE:SRI) – Equities researchers at KeyCorp increased their Q3 2017 EPS estimates for Stoneridge in a research report issued on Thursday. KeyCorp analyst B. Hoselton now forecasts that the auto parts company will earn $0.32 per share for the quarter, up from their previous forecast of $0.29. KeyCorp also issued estimates for Stoneridge’s Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.47 EPS and FY2018 earnings at $1.57 EPS.
Several other research firms have also weighed in on SRI. Zacks Investment Research lowered shares of Stoneridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 4th. B. Riley restated a “buy” rating and set a $22.00 price target on shares of Stoneridge in a research note on Monday, May 8th. BidaskClub lowered shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Finally, ValuEngine upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.67.
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Stoneridge (NYSE SRI) opened at 16.84 on Monday. The company’s 50 day moving average is $15.35 and its 200 day moving average is $16.87. The firm has a market cap of $474.37 million, a price-to-earnings ratio of 6.23 and a beta of 1.33. Stoneridge has a 12-month low of $13.42 and a 12-month high of $20.82.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.10. The company had revenue of $209.10 million for the quarter, compared to analyst estimates of $202.45 million. Stoneridge had a net margin of 4.27% and a return on equity of 18.02%. Stoneridge’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS.
In related news, insider Peter Kruk sold 22,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $16.63, for a total transaction of $365,860.00. Following the completion of the sale, the insider now directly owns 20,047 shares of the company’s stock, valued at approximately $333,381.61. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of Stoneridge by 31.2% in the first quarter. American Century Companies Inc. now owns 514,584 shares of the auto parts company’s stock worth $9,335,000 after buying an additional 122,385 shares during the period. Algert Global LLC increased its stake in shares of Stoneridge by 17.1% in the first quarter. Algert Global LLC now owns 82,933 shares of the auto parts company’s stock worth $1,504,000 after buying an additional 12,081 shares during the period. LSV Asset Management increased its stake in shares of Stoneridge by 6.0% in the first quarter. LSV Asset Management now owns 699,700 shares of the auto parts company’s stock worth $12,692,000 after buying an additional 39,800 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Stoneridge by 7.5% in the first quarter. Wedge Capital Management L L P NC now owns 76,200 shares of the auto parts company’s stock worth $1,382,000 after buying an additional 5,300 shares during the period. Finally, Bowling Portfolio Management LLC increased its stake in shares of Stoneridge by 101.1% in the first quarter. Bowling Portfolio Management LLC now owns 42,003 shares of the auto parts company’s stock worth $762,000 after buying an additional 21,117 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.
Stoneridge Company Profile
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.
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