Stoneridge, Inc. (NYSE:SRI) Shares Acquired by State Street Corp

State Street Corp increased its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,981 shares of the auto parts company’s stock after acquiring an additional 11,929 shares during the quarter. State Street Corp’s holdings in Stoneridge were worth $7,038,000 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 acquired a new position in Stoneridge in the third quarter valued at $44,000. US Bancorp DE purchased a new stake in shares of Stoneridge in the 3rd quarter valued at about $46,000. nVerses Capital LLC acquired a new stake in shares of Stoneridge in the 3rd quarter valued at about $59,000. Olympiad Research LP purchased a new position in Stoneridge during the 3rd quarter worth approximately $121,000. Finally, Paloma Partners Management Co acquired a new position in Stoneridge during the third quarter worth approximately $139,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Stoneridge Price Performance

Stoneridge stock opened at $6.21 on Friday. The stock has a 50 day moving average of $7.06 and a two-hundred day moving average of $11.50. Stoneridge, Inc. has a twelve month low of $5.52 and a twelve month high of $19.77. The stock has a market capitalization of $171.94 million, a price-to-earnings 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 quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). The firm 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% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. As a group, research analysts expect that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Stoneridge Company 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.