Stoneridge (NYSE:SRI) Stock Price Down 4.2%


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Stoneridge, Inc. (NYSE:SRI)’s stock price traded down 4.2% during trading on Thursday . The stock traded as low as $28.13 and last traded at $28.65. 1,710 shares changed hands during trading, a decline of 99% from the average session volume of 127,282 shares. The stock had previously closed at $29.90.

Several equities research analysts have commented on the company. Barrington Research upgraded Stoneridge from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, March 2nd. CL King lowered Stoneridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 26th. Finally, Zacks Investment Research lowered Stoneridge from a “hold” rating to a “sell” rating in a research report on Wednesday, March 3rd.

The company has a quick ratio of 1.74, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $33.12 and a 200-day moving average price of $28.15. The firm has a market capitalization of $783.15 million, a PE ratio of -100.46 and a beta of 1.58.

Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, February 24th. The auto parts company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.12. Stoneridge had a positive return on equity of 1.27% and a negative net margin of 1.13%. The firm had revenue of $189.73 million for the quarter, compared to analysts’ expectations of $172.89 million. On average, equities research analysts anticipate that Stoneridge, Inc. will post -0.15 earnings per share for the current year.

In related news, CEO Jonathan B. Degaynor sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $29.93, for a total value of $299,300.00. Following the transaction, the chief executive officer now directly owns 136,208 shares in the company, valued at $4,076,705.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in Stoneridge by 22.4% during the fourth quarter. US Bancorp DE now owns 2,280 shares of the auto parts company’s stock worth $69,000 after purchasing an additional 417 shares in the last quarter. Fort Pitt Capital Group LLC purchased a new stake in shares of Stoneridge during the fourth quarter worth $36,000. California Public Employees Retirement System increased its position in shares of Stoneridge by 3.3% during the third quarter. California Public Employees Retirement System now owns 59,335 shares of the auto parts company’s stock worth $1,090,000 after acquiring an additional 1,900 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Stoneridge by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 258,648 shares of the auto parts company’s stock worth $4,752,000 after acquiring an additional 2,866 shares during the period. Finally, Citigroup Inc. increased its position in shares of Stoneridge by 243.1% during the fourth quarter. Citigroup Inc. now owns 6,179 shares of the auto parts company’s stock worth $187,000 after acquiring an additional 4,378 shares during the period. Institutional investors own 95.31% of the company’s stock.

About Stoneridge (NYSE:SRI)

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates in three segments: Control Devices, Electronics, and Stoneridge Brazil.

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