Stoneridge (NYSE:SRI) Announces Quarterly Earnings Results

by · The Markets Daily

Stoneridge (NYSE:SRIGet Free Report) issued its quarterly earnings data on Wednesday. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.26), FiscalAI reports. Stoneridge had a negative net margin of 15.64% and a negative return on equity of 23.42%. The firm had revenue of $181.38 million during the quarter, compared to analyst estimates of $161.85 million.

Stoneridge Stock Performance

Shares of NYSE:SRI traded up $0.06 during midday trading on Friday, hitting $7.30. The company’s stock had a trading volume of 18,926 shares, compared to its average volume of 225,330. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.02. The stock’s 50 day simple moving average is $7.27 and its 200 day simple moving average is $6.99. The stock has a market capitalization of $206.26 million, a price-to-earnings ratio of -1.71 and a beta of 1.85. Stoneridge has a fifty-two week low of $4.60 and a fifty-two week high of $9.71.

Wall Street Analyst Weigh In

SRI has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. Zacks Research raised 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $16.00.

View Our Latest Stock Analysis on Stoneridge

Insider Activity at Stoneridge

In other Stoneridge news, Director William M. Lasky acquired 5,000 shares of Stoneridge stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $7.46 per share, with a total value of $37,300.00. Following the completion of the transaction, the director owned 192,666 shares of the company’s stock, valued at $1,437,288.36. The trade was a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira C. Kaplan acquired 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average price of $7.54 per share, for a total transaction of $37,700.00. Following the purchase, the director owned 100,046 shares of the company’s stock, valued at $754,346.84. The trade was a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 11.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SRI. NewEdge Advisors LLC bought a new stake in Stoneridge in the 4th quarter valued at $62,000. Empowered Funds LLC bought a new position in shares of Stoneridge during the 4th quarter worth about $131,000. Quadrature Capital Ltd bought a new stake in Stoneridge in the fourth quarter valued at about $61,000. Man Group plc raised its position in Stoneridge by 8.1% in the fourth quarter. Man Group plc now owns 196,755 shares of the auto parts company’s stock worth $1,139,000 after purchasing an additional 14,669 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Stoneridge during the fourth quarter valued at approximately $92,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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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