Stoneridge, Inc. (SRI) Expected to Post Quarterly Sales of $200.40 Million

Brokerages expect Stoneridge, Inc. (NYSE:SRI) to post $200.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Stoneridge’s earnings, with the highest sales estimate coming in at $201.20 million and the lowest estimate coming in at $199.60 million. Stoneridge posted sales of $172.61 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.1%. The company is scheduled to announce its next earnings report on Thursday, March 1st.

According to Zacks, analysts expect that Stoneridge will report full year sales of $200.40 million for the current financial year, with estimates ranging from $816.60 million to $818.20 million. For the next financial year, analysts expect that the business will report sales of $853.10 million per share, with estimates ranging from $845.40 million to $860.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Stoneridge.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 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 business had revenue of $203.60 million during the quarter, compared to analyst estimates of $192.80 million. During the same period last year, the business posted $0.36 earnings per share. Stoneridge’s quarterly revenue was up 17.1% compared to the same quarter last year.

Several brokerages have commented on SRI. Zacks Investment Research lowered shares of Stoneridge from a “strong-buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a report on Wednesday, January 10th. ValuEngine upgraded shares of Stoneridge from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. KeyCorp restated a “hold” rating on shares of Stoneridge in a report on Sunday, October 15th. Finally, B. Riley restated a “neutral” rating on shares of Stoneridge in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.50.

In other news, VP Thomas A. Beaver sold 49,779 shares of Stoneridge stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $21.51, for a total transaction of $1,070,746.29. Following the completion of the transaction, the vice president now directly owns 76,529 shares in the company, valued at $1,646,138.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Stoneridge by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 112,389 shares of the auto parts company’s stock valued at $1,732,000 after purchasing an additional 627 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Stoneridge by 5.1% during the third quarter. Prudential Financial Inc. now owns 175,472 shares of the auto parts company’s stock valued at $3,476,000 after purchasing an additional 8,480 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Stoneridge by 12.4% during the third quarter. Nordea Investment Management AB now owns 135,822 shares of the auto parts company’s stock valued at $2,691,000 after purchasing an additional 15,008 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Stoneridge by 5.7% during the third quarter. Segall Bryant & Hamill LLC now owns 115,773 shares of the auto parts company’s stock valued at $2,293,000 after purchasing an additional 6,237 shares during the last quarter. Finally, Adirondack Research & Management Inc. lifted its holdings in shares of Stoneridge by 8.2% during the third quarter. Adirondack Research & Management Inc. now owns 197,594 shares of the auto parts company’s stock valued at $3,914,000 after purchasing an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 87.34% of the company’s stock.

Shares of Stoneridge (NYSE:SRI) traded down $0.27 on Friday, reaching $24.59. 97,271 shares of the company’s stock traded hands, compared to its average volume of 205,994. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. Stoneridge has a twelve month low of $14.16 and a twelve month high of $26.47. The stock has a market capitalization of $692.73, a price-to-earnings ratio of 9.39 and a beta of 1.45.

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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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