Key Points
- CEO Natalia Noblet bought 5,000 Stoneridge shares at an average price of $7.31, investing $36,550 and establishing a 5,000-share position.
- Stoneridge reported a quarterly loss of $0.18 per share, missing estimates by $0.26, although revenue of $181.38 million exceeded expectations.
- Analyst sentiment remains cautious, with an average “Reduce” rating, while institutional investors own approximately 98.07% of the company’s shares.
Stoneridge, Inc. (NYSE:SRI - Get Free Report) CEO Natalia Noblet acquired 5,000 shares of the business's stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $7.31 per share, with a total value of $36,550.00. Following the completion of the purchase, the chief executive officer owned 5,000 shares in the company, valued at $36,550. This represents a ∞ 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
Shares of Stoneridge stock opened at $6.80 on Wednesday. The stock has a market capitalization of $194.02 million, a P/E ratio of -1.60 and a beta of 1.85. The business has a 50 day simple moving average of $7.25 and a two-hundred day simple moving average of $7.02. Stoneridge, Inc. has a 12 month low of $4.60 and a 12 month high of $9.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.89 and a quick ratio of 1.27.
Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.26). Stoneridge had a negative return on equity of 24.91% and a negative net margin of 15.64%.The firm had revenue of $181.38 million during the quarter, compared to analyst estimates of $161.85 million. As a group, analysts predict that Stoneridge, Inc. will post -0.74 EPS for the current fiscal year.
Institutional Investors Weigh In On Stoneridge
Large investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in Stoneridge during the first quarter worth approximately $39,000. Quadrature Capital Ltd acquired a new stake in shares of Stoneridge in the 4th quarter worth $61,000. NewEdge Advisors LLC purchased a new position in shares of Stoneridge during the 4th quarter worth $62,000. WINTON GROUP Ltd acquired a new position in shares of Stoneridge during the 4th quarter valued at about $69,000. Finally, Jain Global LLC acquired a new position in shares of Stoneridge during the 4th quarter valued at about $77,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Stoneridge in a research note on Wednesday, June 24th. Zacks Research upgraded shares of Stoneridge from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $16.00.
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Stoneridge Company Profile
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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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