JPMorgan Chase & Co. Purchases 42,379 Shares of Stoneridge, Inc. (NYSE:SRI)

JPMorgan Chase & Co. boosted its position in Stoneridge, Inc. (NYSE:SRI) by 296.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 56,696 shares of the auto parts company’s stock after purchasing an additional 42,379 shares during the period. JPMorgan Chase & Co. owned about 0.20% of Stoneridge worth $634,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SRI. Quarry LP bought a new position in shares of Stoneridge during the 3rd quarter valued at approximately $44,000. US Bancorp DE bought a new position in shares of Stoneridge during the 3rd quarter valued at approximately $46,000. nVerses Capital LLC bought a new position in shares of Stoneridge during the 3rd quarter valued at approximately $59,000. Olympiad Research LP bought a new position in shares of Stoneridge during the 3rd quarter valued at approximately $121,000. Finally, Paloma Partners Management Co bought a new position in shares of Stoneridge during the 3rd quarter valued at approximately $139,000. 98.07% of the stock is owned by institutional investors.

Stoneridge Stock Down 1.2 %

SRI opened at $5.45 on Tuesday. The company has a 50 day moving average of $6.17 and a 200 day moving average of $10.08. The company has a market cap of $150.95 million, a PE ratio of -20.19 and a beta of 1.35. Stoneridge, Inc. has a 12 month low of $5.23 and a 12 month high of $19.34. 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 released its quarterly earnings data 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 the consensus estimate of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. On average, sell-side analysts expect that Stoneridge, Inc. will post -0.42 EPS for the current year.

Analysts Set New Price Targets

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

Stoneridge Profile

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.