EVR Research LP Buys 57,833 Shares of Stoneridge, Inc. (NYSE:SRI)

EVR Research LP raised its stake in Stoneridge, Inc. (NYSE:SRI – Get Rating) by 105.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,833 shares of the auto parts company’s stock after acquiring an additional 57,833 shares during the quarter. EVR Research LP’s holdings in Stoneridge were worth $1,913,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Raymond James & Associates increased its position in Stoneridge by 14.0% during the 3rd quarter. Raymond James & Associates now owns 12,503 shares of the auto parts company’s stock valued at $212,000 after purchasing an additional 1,534 shares during the period. SG Americas Securities LLC increased its position in Stoneridge by 12.2% during the 3rd quarter. SG Americas Securities LLC now owns 9,644 shares of the auto parts company’s stock valued at $163,000 after purchasing an additional 1,048 shares during the period. Brinker Capital Investments LLC increased its position in Stoneridge by 25.2% during the 3rd quarter. Brinker Capital Investments LLC now owns 30,778 shares of the auto parts company’s stock valued at $522,000 after purchasing an additional 6,186 shares during the period. Massachusetts Financial Services Co. MA increased its position in Stoneridge by 2.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 800,353 shares of the auto parts company’s stock valued at $13,566,000 after purchasing an additional 16,695 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in Stoneridge during the 3rd quarter valued at approximately $32,000. Institutional investors own 97.54% of the company’s stock.

Stoneridge Stock Performance

Shares of SRI stock opened at $17.42 on Thursday. The company has a market cap of $476.44 million, a price-to-earnings ratio of -34.16 and a beta of 1.33. Stoneridge, Inc. has a 52 week low of $15.62 and a 52 week high of $25.87. The company has a quick ratio of 1.45, a current ratio of 2.30 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $22.40 and a 200-day moving average of $21.29.

Stoneridge (NYSE:SRI – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The auto parts company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.06). Stoneridge had a negative return on equity of 4.03% and a negative net margin of 1.56%. The company had revenue of $231.20 million for the quarter, compared to analyst estimates of $227.80 million. During the same period last year, the business earned ($0.24) EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities analysts forecast that Stoneridge, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stephens reissued an “overweight” rating and set a $27.00 target price on shares of Stoneridge in a research report on Thursday, March 2nd. StockNews.com raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Monday.

About Stoneridge

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Stoneridge, Inc engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil.