Barrington analyst Gary Prestopino maintained a Hold rating on Stoneridge (SRI – Research Report) today and set a price target of $25.00. The company’s shares closed last Friday at $18.82.
According to TipRanks.com, Prestopino is a top 100 analyst with an average return of 37.9% and a 61.0% success rate. Prestopino covers the Technology sector, focusing on stocks such as CCC Intelligent Solutions Holdings, PowerFleet, and AutoWeb.
Currently, the analyst consensus on Stoneridge is a Hold with an average price target of $25.00.
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Based on Stoneridge’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $221 million and GAAP net loss of $7.68 million. In comparison, last year the company earned revenue of $194 million and had a net profit of $130K.
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Stoneridge, Inc. engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil. The Control Devices segment designs and manufactures products that monitor, measure, and activate specific functions within a vehicle such as sensors, switches, valves, and actuators. The Electronics segment offers driver information systems, camera-based vision systems, connectivity and compliance products, and electronic control units. The Stoneridge Brazil segment sells vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, in-vehicle audio and infotainment devices, and telematics solutions. The company was founded by D. M. Draime in 1965 and is headquartered in Novi, MI.
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