Stoneridge, Inc. $SRI Shares Bought by 22NW LP

22NW LP raised its position in Stoneridge, Inc. (NYSE:SRI) by 8.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,105,600 shares of the auto parts company’s stock after purchasing an additional 162,092 shares during the period. Stoneridge accounts for 8.3% of 22NW LP’s investment portfolio, making the stock its 4th largest holding. 22NW LP owned approximately 7.52% of Stoneridge worth $16,045,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Stoneridge by 3.5% in the third quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock valued at $11,540,000 after buying an additional 51,263 shares in the last quarter. Federated Hermes Inc. lifted its stake in Stoneridge by 50.4% during the second quarter. Federated Hermes Inc. now owns 1,062,490 shares of the auto parts company’s stock worth $7,480,000 after purchasing an additional 356,143 shares during the last quarter. Millennium Management LLC lifted its stake 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. AQR Capital Management LLC boosted its holdings in Stoneridge by 29.7% in the second quarter. AQR Capital Management LLC now owns 691,962 shares of the auto parts company’s stock valued at $4,871,000 after purchasing an additional 158,492 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Stoneridge by 25.0% in the second quarter. JPMorgan Chase & Co. now owns 614,538 shares of the auto parts company’s stock valued at $4,326,000 after purchasing an additional 122,897 shares in the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on SRI shares. Wall Street Zen raised shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.00.

Stoneridge Stock Down 2.6%

Shares of NYSE SRI opened at $5.78 on Friday. The business has a 50-day moving average price of $7.26 and a 200 day moving average price of $6.94. The stock has a market cap of $161.82 million, a PE ratio of -1.56 and a beta of 1.45. The company has a quick ratio of 1.33, a current ratio of 2.13 and a debt-to-equity ratio of 0.68. Stoneridge, Inc. has a 52-week low of $3.54 and a 52-week high of $9.71.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, March 11th. The auto parts company reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.55). Stoneridge had a negative return on equity of 12.50% and a negative net margin of 11.94%.The firm had revenue of $205.15 million for the quarter, compared to analyst estimates of $211.70 million. Equities research analysts forecast that Stoneridge, Inc. will post -0.42 earnings per share for the current 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.