The President & CEO of Stoneridge (NYSE: SRI) is Buying Shares

By Carrie Williams

Today, the President & CEO of Stoneridge (NYSE: SRI), Jonathan Degaynor, bought shares of SRI for $153.5K.

This recent transaction increases Jonathan Degaynor’s holding in the company by 7.23% to a total of $2.34 million. In addition to Jonathan Degaynor, one other SRI executive reported Buy trades in the last month.

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Based on Stoneridge’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $226 million and quarterly net profit of $13.38 million. In comparison, last year the company earned revenue of $204 million and had a net profit of $9.2 million. SRI’s market cap is $899.7M and the company has a P/E ratio of 18.47. Currently, Stoneridge has an average volume of 212.7K.

Five different firms, including B.Riley FBR and Barrington, currently also have a Buy rating on the stock. Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $31.00, reflecting a 2.0% upside.

In the last 30 days, insiders have sold $921.5K worth of SRI shares and purchased $153.5K worth of SRI shares. The insider sentiment on Stoneridge has been negative according to 19 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Stoneridge, Inc. engages in the design and manufacture of engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets.