B.Riley FBR analyst Christopher Van Horn reiterated a Hold rating on Stoneridge (SRI) today and set a price target of $33. The company’s shares opened today at $29.78.
Van Horn wrote:
“Stoneridge (SRI) shares closed up 3.8% vs. the the company reported above-estimates 4Q18 results after the close on February 27. In addition, the company issued guidance for 2019 that was essentially in line with the tone of other suppliers in the space. The company’s profitability results, while hindered by U.S. tariffs on Chinese goods, were overall stronger than expected. We are adjusting our estimates on revenues and EPS to be better align with the company’s guidance. We think that top-line headwinds are impacted by continued roll-off in shift-by-wire business but could be benefited by new program launches and MirrorEye revenue. So, in that context, it seems less surprising that shares closed up almost 4% on the report.”
According to TipRanks.com, Horn is a 4-star analyst with an average return of 4.0% and a 49.8% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Espey Mfg & Electronics, Methode Electronics, and Hickok Incorporated.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Stoneridge with a $33.50 average price target.
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Stoneridge’s market cap is currently $842.2M and has a P/E ratio of 14.14. The company has a Price to Book ratio of 3.13.
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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.
