Frontier Capital Management Co. L recently announced the acquisition of new stake in Stoneridge Inc. (NYSE:SRI). The institutional investor has increased its shareholding in the Consumer Cyclical company by 22.07% to 1.78 million shares with purchase of 0.32 million shares. This fresh investment now brings its stake to 6.52% valued currently at $38.39 million. In addition, Dimensional Fund Advisors LP raised its holdings by 22247.0 to 1.42 million shares. And The Vanguard Group, Inc. has lifted its position by 0.89% or 11883.0 shares – to 1.34 million shares.
With over 0.16 million Stoneridge Inc. (SRI) shares trading Friday and a closing price of $23.05 on the day, the dollar volume was approximately $3.58 million. The shares have shown a positive half year performance of 38.52% and its price on 01/13/23 gained nearly 0.22%. Currently, there are 27.28M common shares owned by the public and among those 26.10M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for SRI have a consensus price objective of $26.00. The analysts have set the share’s price value over the next 12 months at a high of $27.00 and a low of $25.00. The average price target is 11.35% above its recent price level and an upside to the estimated low will see the stock gain 7.8% over that period. But an upside of 14.63% will see the stock hit the forecast high price target while median target price for the stock is $26.00.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 209,057 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 99,445 shares.
The top 3 mutual fund holders in Stoneridge Inc. are Thrivent Small Cap Stock Fund, Vanguard Total Stock Market Index, and John Hancock Small Cap Core Fund. Thrivent Small Cap Stock Fund owns 0.76 million shares of the company’s stock, all valued at over $16.32 million. The company bought an additional 97961.0 shares recently to bring their total holdings to about 2.77% of the shares outstanding. John Hancock Small Cap Core Fund sold -0.16 million shares to bring its total holdings to over 0.69 million shares at a value of $14.81 million. John Hancock Small Cap Core Fund now owns shares totaling to 2.51% of the shares outstanding.
Shares of Stoneridge Inc. (NYSE: SRI) opened at $22.51, down -$0.49 from a prior closing price of $23.00. However, the script later moved the day high at 23.15, up 0.22%. The company’s stock has a 5-day price change of 2.40% and 32.62% over the past three months. SRI shares are trading 6.91% year to date (YTD), with the 12-month market performance up to 17.12% higher. It has a 12-month low price of $13.64 and touched a high of $25.87 over the same period. SRI has an average intraday trading volume of 116.34K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.62%, 0.82%, and 16.20% respectively.
Institutional ownership of Stoneridge Inc. (NYSE: SRI) 27.28M shares outstanding. Mutual fund holders own 48.98%, while other institutional holders and individual stakeholders account for 49.37% and 42.98% respectively.
It has a market capitalization of $628.57M and a beta (3y monthly) value of 1.32. The earnings-per-share (ttm) stands at -$0.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.51% over the week and 3.54% over the month.
Analysts forecast that Stoneridge Inc. (SRI) will achieve an EPS of -$0.02 for the current quarter, $0.24 for the next quarter and $0.62 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.27 a year ago. Earnings per share for the fiscal year are expected to increase by 142.20%, and 228.60% over the next financial year. EPS should grow at an annualized rate of 0.28% over the next five years, compared to -46.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Stoneridge Inc. (SRI) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Barrington Research coverage for the Stoneridge Inc. (SRI) stock in a research note released on March 02, 2021 offered a Outperform rating with a price target of $45. Buckingham Research on their part issued Buy rating on June 20, 2018.