Stoneridge, Inc. (NYSE:SRI) saw unusually-high trading volume on Tuesday . Approximately 959,607 shares changed hands during trading, an increase of 501% from the previous session’s volume of 159,667 shares.The stock last traded at $23.99 and had previously closed at $21.34.
SRI has been the topic of several research reports. Zacks Investment Research downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. KeyCorp reissued a “hold” rating on shares of Stoneridge in a research report on Friday, November 17th. Finally, B. Riley reissued a “neutral” rating on shares of Stoneridge in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.50.
The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. The firm has a market cap of $608.50, a PE ratio of 14.40 and a beta of 1.45.
In other news, VP Thomas A. Beaver sold 49,779 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $21.51, for a total value of $1,070,746.29. Following the completion of the sale, the vice president now owns 76,529 shares in the company, valued at approximately $1,646,138.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.30% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in shares of Stoneridge by 12.2% in the 1st quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock worth $128,000 after acquiring an additional 772 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Stoneridge in the 3rd quarter worth $206,000. Nine Chapters Capital Management LLC acquired a new stake in shares of Stoneridge in the 3rd quarter worth $216,000. Shufro Rose & Co. LLC acquired a new stake in shares of Stoneridge in the 3rd quarter worth $248,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Stoneridge in the 2nd quarter worth $217,000. Institutional investors own 86.99% of the company’s stock.
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Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.
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