Stoneridge (SRI) is Downgraded by Sidoti to Neutral

Stoneridge (SRI) was Downgraded by Sidoti to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Sidoti advised their investors in a research report released on May 31, 2016.

On the company’s financial health, Stoneridge reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.23. The company had revenue of $162.60 million for the quarter, compared to analysts expectations of $172.45 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.17 EPS.

Stoneridge opened for trading at $16.19 and hit $16.99 on the upside on Friday, eventually ending the session at $16.77, with a gain of 3.58% or 0.58 points. The heightened volatility saw the trading volume jump to 2,77,806 shares. Company has a market cap of $467 M.

In a different news, on Mar 14, 2016, Peter Kruk (President of Electronics) sold 4,905 shares at $13.17 per share price. According to the SEC, on Nov 12, 2015, George S Jr Mayes (director) purchased 500 shares at $13.55 per share price. On Oct 1, 2015, Ira C. Kaplan (director) sold 4,100 shares at $12.41 per share price, according to the Form-4 filing with the securities and exchange commission.

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 in 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. The Company’s Electronics segment designs and manufactures electronic instrument clusters electronic control units and driver information systems. The Company’s PST segment is engaged in the design manufacture and sale of electronic vehicle security alarms convenience accessories vehicle tracking devices and monitoring services and in-vehicle audio and video devices. The Company’s operations including its joint ventures cover more than 25 locations in 12 countries.


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