Stoneridge (SRI) Sees Unusually-High Trading Volume

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.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The company had revenue of $203.60 million for the quarter, compared to the consensus estimate of $192.80 million. During the same period last year, the firm posted $0.36 EPS. Stoneridge’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts expect that Stoneridge, Inc. will post 1.49 EPS for the current fiscal year.

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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About Stoneridge

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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