Key Points
- Director William Lasky bought 5,000 shares of Stoneridge at $7.46 each, a transaction worth $37,300. After the purchase, he held 192,666 shares, increasing his position by 2.66%.
- Stoneridge recently reported weaker-than-expected earnings, posting EPS of -$0.75 versus the consensus estimate of $0.01, even though revenue of $160.85 million came in above forecasts.
- Wall Street sentiment remains cautious: several analysts have cut ratings on the stock, and MarketBeat shows an average rating of “Sell” with a $16.00 price target.
Stoneridge, Inc. (NYSE:SRI - Get Free Report) Director William Lasky acquired 5,000 shares of the business's stock in a transaction on Friday, June 12th. The shares were 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 owned 192,666 shares in the company, valued at $1,437,288.36. This represents a 2.66% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Stoneridge Price Performance
NYSE:SRI opened at $7.65 on Friday. Stoneridge, Inc. has a 12 month low of $4.60 and a 12 month high of $9.71. The stock has a 50 day moving average of $6.78 and a two-hundred day moving average of $6.61. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00. The firm has a market cap of $216.06 million, a P/E ratio of -1.73 and a beta of 1.85.
Stoneridge (NYSE:SRI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The auto parts company reported ($0.75) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.76). Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%.The firm had revenue of $160.85 million for the quarter, compared to analysts' expectations of $139.00 million. On average, analysts expect that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in SRI. Arrowstreet Capital Limited Partnership lifted its holdings in Stoneridge by 285.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company's stock valued at $3,948,000 after acquiring an additional 383,805 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company's stock valued at $2,449,000 after acquiring an additional 363,407 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Stoneridge by 340.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company's stock valued at $1,487,000 after acquiring an additional 198,423 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Stoneridge by 50.0% in the fourth quarter. Russell Investments Group Ltd. now owns 575,670 shares of the auto parts company's stock valued at $3,333,000 after acquiring an additional 191,953 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Stoneridge by 186.7% in the second quarter. Marshall Wace LLP now owns 293,987 shares of the auto parts company's stock valued at $2,070,000 after acquiring an additional 191,444 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Zacks Research cut Stoneridge from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Stoneridge in a report on Friday, March 27th. Wall Street Zen cut Stoneridge from a "buy" rating to a "hold" rating in a report on Sunday, March 22nd. Finally, Barrington Research cut Stoneridge from an "outperform" rating to a "market perform" rating in a report on Monday, March 16th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Sell" and an average price target of $16.00.
Get Our Latest Analysis on Stoneridge
About Stoneridge
(
Get Free Report)
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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