Stoneridge (NYSE:SRI) Earns Hold Rating from KeyCorp

Stoneridge (NYSE:SRI)‘s stock had its “hold” rating reaffirmed by equities researchers at KeyCorp in a research note issued to investors on Friday, November 17th.

A number of other research firms have also weighed in on SRI. B. Riley restated a “neutral” rating on shares of Stoneridge in a research report on Friday, November 3rd. Zacks Investment Research lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, BidaskClub lowered shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Stoneridge has a consensus rating of “Hold” and a consensus target price of $23.50.

Shares of Stoneridge (SRI) traded down $0.10 during trading on Friday, reaching $21.78. 162,342 shares of the company’s stock traded hands, compared to its average volume of 155,807. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.24 and a quick ratio of 1.65. The stock has a market capitalization of $616.39, a PE ratio of 14.59 and a beta of 1.45. Stoneridge has a twelve month low of $14.16 and a twelve month high of $23.47.

Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The firm had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $192.80 million. During the same period in the previous year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. research analysts forecast that Stoneridge will post 1.49 earnings per share for the current fiscal year.

In related news, VP Thomas A. Beaver sold 49,779 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $21.51, for a total value of $1,070,746.29. Following the transaction, the vice president now owns 76,529 shares of the company’s stock, valued at approximately $1,646,138.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $16.51, for a total transaction of $121,480.58. Following the completion of the transaction, the insider now directly owns 37,281 shares in the company, valued at approximately $615,509.31. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP boosted its holdings in shares of Stoneridge by 112.8% in the 3rd quarter. GSA Capital Partners LLP now owns 72,215 shares of the auto parts company’s stock valued at $1,431,000 after buying an additional 38,276 shares in the last quarter. California Public Employees Retirement System boosted its stake in Stoneridge by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 126,157 shares of the auto parts company’s stock worth $2,499,000 after purchasing an additional 6,757 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Stoneridge in the 3rd quarter worth approximately $206,000. Segall Bryant & Hamill LLC boosted its stake in Stoneridge by 5.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 115,773 shares of the auto parts company’s stock worth $2,293,000 after purchasing an additional 6,237 shares in the last quarter. Finally, NWQ Investment Management Company LLC boosted its stake in Stoneridge by 1.7% in the 3rd quarter. NWQ Investment Management Company LLC now owns 2,037,198 shares of the auto parts company’s stock worth $40,357,000 after purchasing an additional 33,240 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

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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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