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 $26.32.
Van Horn wrote:
“In our opinion, Stoneridge (SRI) is transitioning toward a technology-driven revenue stream that could offer long-term growth opportunities in multiple regions and in a variety of end markets, including automotive, heavy truck, and off-highway vehicles. This diversification gives the company some degree of insulation against downside in any particular market, in our opinion. Moreover, it positions the company to capitalize on technology trends beyond automotive; for example, MirrorEye, a system designed to replace commercial vehicles’ exterior mirrors with cameras and displays, continues to gain traction in the heavy truck market and could offer meaningful long-term growth possibilities, in our opinion.”
According to TipRanks.com, Horn is a 4-star analyst with an average return of 3.6% and a 50.0% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Espey Mfg & Electronics, Standard Motor Products, and Methode Electronics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Stoneridge with a $32.75 average price target.
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Stoneridge’s market cap is currently $740M and has a P/E ratio of 12.58. The company has a Price to Book ratio of 2.78.
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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.
