Stoneridge, Inc. $SRI Shares Sold by Royce & Associates LP

Royce & Associates LP cut its position in shares of Stoneridge, Inc. (NYSE:SRI) by 42.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 591,741 shares of the auto parts company’s stock after selling 443,956 shares during the quarter. Royce & Associates LP owned 2.11% of Stoneridge worth $3,426,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SRI. AQR Capital Management LLC raised its holdings in Stoneridge by 213.7% during the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock worth $2,449,000 after purchasing an additional 363,407 shares during the last quarter. Millennium Management LLC raised its holdings in Stoneridge by 3.0% during the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock worth $4,382,000 after purchasing an additional 28,037 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Stoneridge by 55.9% during the first quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock worth $2,250,000 after purchasing an additional 175,736 shares during the last quarter. Strs Ohio acquired a new position in Stoneridge during the first quarter worth $39,000. Finally, JPMorgan Chase & Co. raised its holdings in Stoneridge by 25.0% during the second quarter. JPMorgan Chase & Co. now owns 614,538 shares of the auto parts company’s stock worth $4,326,000 after purchasing an additional 122,897 shares during the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SRI shares. Wall Street Zen cut Stoneridge from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a report on Friday, March 27th. Zacks Research cut Stoneridge from a “hold” rating to a “strong sell” rating in a report on Wednesday. Finally, Barrington Research cut Stoneridge from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell” and an average price target of $16.00.

Stoneridge Stock Performance

NYSE SRI opened at $7.45 on Friday. Stoneridge, Inc. has a fifty-two week low of $4.60 and a fifty-two week high of $9.71. The stock has a market cap of $210.30 million, a price-to-earnings ratio of -1.69 and a beta of 1.85. The business has a fifty day moving average of $6.34 and a 200-day moving average of $6.50. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.76). Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%.The company had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. As a group, analysts predict that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.