Shares of Stoneridge, Inc. (NYSE:SRI) hit a new 52-week high on Tuesday . The stock traded as high as $29.21 and last traded at $29.04, with a volume of 998081 shares. The stock had previously closed at $24.77.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Stoneridge from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research note on Friday, February 9th. B. Riley boosted their price objective on shares of Stoneridge from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 6th. ValuEngine raised shares of Stoneridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Stephens raised shares of Stoneridge from an “equal” rating to a “weight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.50.
The company has a debt-to-equity ratio of 0.51, a current ratio of 2.23 and a quick ratio of 1.69. The firm has a market cap of $702.53, a P/E ratio of 16.40 and a beta of 1.37.
Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, February 28th. The auto parts company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. Stoneridge had a net margin of 5.48% and a return on equity of 20.36%. The company had revenue of $207.40 million for the quarter, compared to analysts’ expectations of $206.50 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Stoneridge’s revenue for the quarter was up 20.2% on a year-over-year basis. equities research analysts expect that Stoneridge, Inc. will post 1.96 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in Stoneridge in the fourth quarter valued at $313,000. Macquarie Group Ltd. acquired a new position in Stoneridge in the fourth quarter valued at $160,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Stoneridge by 15,362.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,462 shares of the auto parts company’s stock valued at $353,000 after buying an additional 15,362 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in Stoneridge by 155.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 294,305 shares of the auto parts company’s stock valued at $6,728,000 after buying an additional 178,989 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new position in Stoneridge in the fourth quarter valued at $713,000. Institutional investors and hedge funds own 89.12% 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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