Stoneridge (NYSE:SRI – Get Free Report) posted its quarterly earnings data on Wednesday. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.26), FiscalAI reports. Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%.The company had revenue of $181.38 million during the quarter, compared to analysts’ expectations of $161.85 million.
Stoneridge Price Performance
SRI stock traded down $0.07 during trading on Wednesday, reaching $7.47. The company’s stock had a trading volume of 103,994 shares, compared to its average volume of 171,179. Stoneridge has a 1 year low of $4.60 and a 1 year high of $9.71. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $210.98 million, a P/E ratio of -1.69 and a beta of 1.85. The company’s fifty day moving average is $7.28 and its 200-day moving average is $6.99.
Analyst Upgrades and Downgrades
Several research firms have issued reports on SRI. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. Zacks Research raised Stoneridge from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $16.00.
Insider Transactions at Stoneridge
In other Stoneridge news, Director William M. Lasky acquired 5,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $7.46 per share, with a total value of $37,300.00. Following the completion of the purchase, the director directly owned 192,666 shares in the company, valued at approximately $1,437,288.36. The trade was a 2.66% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira C. Kaplan bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of $7.54 per share, with a total value of $37,700.00. Following the transaction, the director directly owned 100,046 shares of the company’s stock, valued at $754,346.84. This represents a 5.26% increase in their position. The disclosure for this purchase is available in the SEC filing. 11.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRI. Ameriprise Financial Inc. grew its holdings in Stoneridge by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 93,729 shares of the auto parts company’s stock valued at $714,000 after buying an additional 1,815 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Stoneridge by 1.9% during the fourth quarter. Jane Street Group LLC now owns 115,259 shares of the auto parts company’s stock worth $667,000 after acquiring an additional 2,178 shares during the last quarter. State Street Corp boosted its position in shares of Stoneridge by 2.6% during the fourth quarter. State Street Corp now owns 134,334 shares of the auto parts company’s stock worth $778,000 after acquiring an additional 3,400 shares during the last quarter. Algert Global LLC boosted its position in shares of Stoneridge by 19.8% during the third quarter. Algert Global LLC now owns 25,880 shares of the auto parts company’s stock worth $197,000 after acquiring an additional 4,270 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Stoneridge by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 317,846 shares of the auto parts company’s stock valued at $1,841,000 after acquiring an additional 4,545 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors.
About Stoneridge
Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.
Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.
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