Raymond James Financial Inc. Takes $2.18 Million Position in Stoneridge, Inc. (NYSE:SRI)

Raymond James Financial Inc. bought a new stake in Stoneridge, Inc. (NYSE:SRI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 347,714 shares of the auto parts company’s stock, valued at approximately $2,180,000. Raymond James Financial Inc. owned approximately 1.26% of Stoneridge at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in Stoneridge during the 3rd quarter valued at about $44,000. US Bancorp DE raised its stake in shares of Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after acquiring an additional 2,679 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Stoneridge in the 4th quarter worth approximately $74,000. Paloma Partners Management Co bought a new stake in Stoneridge during the 3rd quarter worth approximately $139,000. Finally, Virtu Financial LLC acquired a new stake in Stoneridge during the 3rd quarter valued at $146,000. 98.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SRI shares. StockNews.com upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Saturday. Barrington Research restated an “outperform” rating and set a $16.00 target price on shares of Stoneridge in a research report on Tuesday, March 4th.

Stoneridge Stock Performance

Shares of SRI opened at $4.63 on Monday. The company has a market cap of $128.09 million, a PE ratio of -17.13 and a beta of 1.27. The firm has a 50-day moving average of $4.96 and a 200-day moving average of $6.91. Stoneridge, Inc. has a one year low of $4.11 and a one year high of $18.57. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.36). The firm had revenue of $218.20 million during the quarter, compared to the consensus estimate of $207.61 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. As a group, equities analysts forecast that Stoneridge, Inc. will post -0.42 earnings per share for the current 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.