Stoneridge, Inc. (NYSE:SRI) – Analysts at Barrington Research dropped their Q4 2018 earnings per share (EPS) estimates for shares of Stoneridge in a research note issued to investors on Monday, October 29th. Barrington Research analyst G. Prestopino now expects that the auto parts company will earn $0.48 per share for the quarter, down from their previous forecast of $0.60. Barrington Research has a “Buy” rating and a $50.00 price objective on the stock. Barrington Research also issued estimates for Stoneridge’s Q3 2019 earnings at $0.51 EPS and Q4 2019 earnings at $0.50 EPS.
Stoneridge (NYSE:SRI) last released its quarterly earnings results on Friday, October 26th. The auto parts company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. Stoneridge had a net margin of 7.09% and a return on equity of 21.77%. The business had revenue of $208.90 million for the quarter, compared to analysts’ expectations of $204.36 million. During the same period in the prior year, the firm earned $0.36 earnings per share. Stoneridge’s revenue was up 2.6% compared to the same quarter last year.
Several other analysts have also recently commented on SRI. Stephens set a $35.00 price target on shares of Stoneridge and gave the company a “buy” rating in a research note on Tuesday. ValuEngine cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Zacks Investment Research cut shares of Stoneridge from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Finally, Buckingham Research reduced their price objective on shares of Stoneridge from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.17.
SRI opened at $25.51 on Thursday. Stoneridge has a one year low of $20.63 and a one year high of $37.69. The company has a current ratio of 2.20, a quick ratio of 1.59 and a debt-to-equity ratio of 0.38. The company has a market cap of $721.80 million, a PE ratio of 16.25, a P/E/G ratio of 1.46 and a beta of 1.06.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Stoneridge by 5.2% in the second quarter. BlackRock Inc. now owns 2,116,009 shares of the auto parts company’s stock valued at $74,355,000 after acquiring an additional 105,480 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Stoneridge by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,966,938 shares of the auto parts company’s stock valued at $69,119,000 after acquiring an additional 18,458 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Stoneridge by 145.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,168,404 shares of the auto parts company’s stock valued at $34,725,000 after acquiring an additional 692,760 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Stoneridge by 13.1% in the second quarter. Renaissance Technologies LLC now owns 831,200 shares of the auto parts company’s stock valued at $29,208,000 after acquiring an additional 96,400 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Stoneridge by 73.0% in the second quarter. Acadian Asset Management LLC now owns 772,025 shares of the auto parts company’s stock valued at $27,129,000 after acquiring an additional 325,870 shares during the last quarter. 89.74% of the stock is currently owned by hedge funds and other institutional investors.
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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