Brokerages expect Stoneridge, Inc. (NYSE:SRI) to post sales of $204.17 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Stoneridge’s earnings. The lowest sales estimate is $194.23 million and the highest is $214.10 million. Stoneridge reported sales of $208.85 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.2%. The firm is scheduled to announce its next earnings results on Friday, October 25th.
According to Zacks, analysts expect that Stoneridge will report full-year sales of $848.42 million for the current year, with estimates ranging from $830.83 million to $866.00 million. For the next year, analysts expect that the company will post sales of $880.44 million, with estimates ranging from $857.47 million to $903.40 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Stoneridge.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. Stoneridge had a return on equity of 17.95% and a net margin of 8.69%. The business had revenue of $222.24 million for the quarter, compared to the consensus estimate of $203.81 million. During the same period in the prior year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis.
A number of research analysts recently weighed in on SRI shares. Citigroup reaffirmed an “average” rating on shares of Stoneridge in a research note on Tuesday, May 7th. ValuEngine raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded Stoneridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barrington Research reaffirmed a “buy” rating and set a $35.00 price target on shares of Stoneridge in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $34.00.
SRI stock traded up $0.16 during trading on Thursday, reaching $29.84. 115,167 shares of the stock were exchanged, compared to its average volume of 243,673. The firm’s 50 day moving average is $31.59 and its 200 day moving average is $29.50. Stoneridge has a twelve month low of $21.91 and a twelve month high of $34.46. The company has a current ratio of 2.06, a quick ratio of 1.44 and a debt-to-equity ratio of 0.42. The firm has a market cap of $823.63 million, a P/E ratio of 14.99 and a beta of 1.35.
In other Stoneridge news, insider Robert J. Jr. Hartman sold 5,601 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.75, for a total transaction of $161,028.75. Following the completion of the sale, the insider now directly owns 37,281 shares of the company’s stock, valued at approximately $1,071,828.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anthony L. Moore sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $26.50, for a total value of $185,500.00. Following the sale, the vice president now directly owns 15,082 shares of the company’s stock, valued at $399,673. The disclosure for this sale can be found here. Insiders have sold a total of 33,694 shares of company stock valued at $905,282 over the last three months. Corporate insiders own 4.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. First Mercantile Trust Co. bought a new position in shares of Stoneridge in the second quarter valued at approximately $109,000. Quantamental Technologies LLC bought a new position in shares of Stoneridge in the first quarter valued at approximately $117,000. Legal & General Group Plc grew its holdings in shares of Stoneridge by 10.0% in the fourth quarter. Legal & General Group Plc now owns 4,980 shares of the auto parts company’s stock valued at $123,000 after acquiring an additional 452 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Stoneridge in the second quarter valued at approximately $173,000. Finally, Zebra Capital Management LLC bought a new position in shares of Stoneridge in the second quarter valued at approximately $214,000. 99.49% of the stock is owned by hedge funds and other institutional investors.
Stoneridge Company Profile
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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