In a report released today, Gary Prestopino from Barrington assigned a Buy rating to Stoneridge (NYSE: SRI), with a price target of $35. The company’s shares closed yesterday at $31.53, close to its 52-week high of $32.18.
Prestopino said:
“We believe this mix shift can total in excess of 80% of sales over a five-year basis.”
According to TipRanks.com, Prestopino is a 3-star analyst with an average return of 5.6% and a 54.7% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Liquidity Services, and Ritchie Bros.
Stoneridge has an analyst consensus of Moderate Buy, with a price target consensus of $31.
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Based on Stoneridge’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $13.38 million. In comparison, last year the company had a net profit of $9.2 million.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock.
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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.
