State Street Corp Grows Holdings in Stoneridge, Inc. (NYSE:SRI)

State Street Corp lifted its position in Stoneridge, Inc. (NYSE:SRI) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 628,981 shares of the auto parts company’s stock after buying an additional 11,929 shares during the quarter. State Street Corp owned approximately 2.27% of Stoneridge worth $7,038,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SRI. Quarry LP purchased a new stake in Stoneridge during the third quarter worth about $44,000. US Bancorp DE acquired a new position in shares of Stoneridge in the third quarter valued at approximately $46,000. nVerses Capital LLC purchased a new stake in Stoneridge during the 3rd quarter worth approximately $59,000. Olympiad Research LP acquired a new stake in Stoneridge during the 3rd quarter worth approximately $121,000. Finally, XTX Topco Ltd purchased a new position in Stoneridge in the 2nd quarter valued at approximately $176,000. Institutional investors and hedge funds own 98.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com lowered Stoneridge from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a report on Thursday, October 31st.

Stoneridge Stock Performance

Shares of NYSE:SRI opened at $6.21 on Friday. Stoneridge, Inc. has a 52 week low of $5.52 and a 52 week high of $19.77. The company’s 50 day moving average is $7.06 and its two-hundred day moving average is $11.50. The company has a market cap of $171.94 million, a PE ratio of -23.00 and a beta of 1.34. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.32). The business had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $229.60 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Equities analysts predict that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

About Stoneridge

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.