Fintel reports that on August 3, 2023, Barrington Research upgraded their outlook for Stoneridge (NYSE:SRI) from Market Perform to Outperform .
Analyst Price Forecast Suggests 18.89% Upside
As of August 2, 2023, the average one-year price target for Stoneridge is 24.48. The forecasts range from a low of 23.23 to a high of $26.25. The average price target represents an increase of 18.89% from its latest reported closing price of 20.59.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Stoneridge is 893MM, a decrease of 7.55%. The projected annual non-GAAP EPS is 0.56.
What is the Fund Sentiment?
There are 341 funds or institutions reporting positions in Stoneridge. This is an increase of 12 owner(s) or 3.65% in the last quarter. Average portfolio weight of all funds dedicated to SRI is 0.16%, a decrease of 29.43%. Total shares owned by institutions increased in the last three months by 0.78% to 33,410K shares. 
The put/call ratio of SRI is 0.45, indicating a bullish outlook.
What are Other Shareholders Doing?
Thrivent Financial For Lutherans holds 2,050K shares representing 7.45% ownership of the company. In it's prior filing, the firm reported owning 1,372K shares, representing an increase of 33.06%. The firm increased its portfolio allocation in SRI by 121,837.99% over the last quarter.
Cooper Creek Partners Management holds 1,751K shares representing 6.36% ownership of the company. In it's prior filing, the firm reported owning 1,859K shares, representing a decrease of 6.15%. The firm decreased its portfolio allocation in SRI by 30.68% over the last quarter.
Frontier Capital Management Co holds 1,687K shares representing 6.13% ownership of the company. In it's prior filing, the firm reported owning 1,928K shares, representing a decrease of 14.26%. The firm decreased its portfolio allocation in SRI by 27.92% over the last quarter.
Cooke & Bieler holds 1,646K shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 1,597K shares, representing an increase of 2.97%. The firm decreased its portfolio allocation in SRI by 1.64% over the last quarter.
AASMX - Thrivent Small Cap Stock Fund holds 1,289K shares representing 4.69% ownership of the company. In it's prior filing, the firm reported owning 811K shares, representing an increase of 37.08%. The firm increased its portfolio allocation in SRI by 13.43% over the last quarter.
Stoneridge Background Information
(This description is provided by the company.)
Stoneridge, Inc., headquartered in Novi, Michigan, is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, commercial vehicle, motorcycle, agricultural and off-highway vehicle markets.
Additional reading:
- Press release dated August 2, 2023, announcing results for the second quarter ended June 30, 2023
- Second quarter 2023 results earnings conference call presentation materials, dated August 3, 2023
- Form of 2023 Phantom Share Grant Agreement
- Stoneridge Reports First Quarter 2023 Results FIRST QUARTER REVENUE AND EARNINGS OUTPERFORM PREVIOUSLY PROVIDED EXPECTATIONS REAFFIRMING 2023 FULL-YEAR GUIDANCE
- Q1 2023 Results May 4, 2023 Exhibit 99.2 2 Forward-Looking Statements Statements in this presentation that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual events or results to dif
This story originally appeared on Fintel.
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