Stoneridge (NYSE:SRI) Issues Quarterly Earnings Results

by · The Cerbat Gem

Stoneridge (NYSE:SRI – Get Free Report) issued its earnings results on Wednesday. The auto parts company reported ($0.18) EPS for the quarter, Zacks reports. The firm had revenue of $210.27 million during the quarter, compared to the consensus estimate of $203.14 million. Stoneridge had a negative return on equity of 9.24% and a negative net margin of 3.39%. Stoneridge updated its FY 2025 guidance to EPS.

Stoneridge Trading Up 8.3%

Shares of NYSE:SRI traded up $0.48 during trading on Friday, reaching $6.24. 120,605 shares of the company traded hands, compared to its average volume of 310,392. The business’s fifty day moving average is $7.49 and its 200-day moving average is $6.76. Stoneridge has a 52-week low of $3.54 and a 52-week high of $9.10. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $174.76 million, a price-to-earnings ratio of -5.76 and a beta of 1.57.

Hedge Funds Weigh In On Stoneridge

Several hedge funds and other institutional investors have recently modified their holdings of SRI. AQR Capital Management LLC boosted its stake in Stoneridge by 213.7% during the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock worth $2,449,000 after buying an additional 363,407 shares during the period. Marshall Wace LLP grew its holdings in Stoneridge by 186.7% during the 2nd quarter. Marshall Wace LLP now owns 293,987 shares of the auto parts company’s stock valued at $2,070,000 after purchasing an additional 191,444 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Stoneridge by 55.9% in the first quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock worth $2,250,000 after purchasing an additional 175,736 shares during the last quarter. Man Group plc increased its stake in Stoneridge by 170.1% in the second quarter. Man Group plc now owns 242,253 shares of the auto parts company’s stock worth $1,705,000 after purchasing an additional 152,547 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Stoneridge by 25.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 614,538 shares of the auto parts company’s stock valued at $4,326,000 after acquiring an additional 122,897 shares in the last quarter. 98.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SRI shares. Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research note on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Stoneridge in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.00.

Check Out Our Latest Stock Report on SRI

Stoneridge Company Profile

(Get Free Report)

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.

Further Reading