Royce & Associates LP Has $15.19 Million Stake in Stoneridge, Inc. (NYSE:SRI)

Royce & Associates LP grew its holdings in shares of Stoneridge, Inc. (NYSE:SRI) by 12.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,357,043 shares of the auto parts company’s stock after acquiring an additional 148,461 shares during the quarter. Royce & Associates LP’s holdings in Stoneridge were worth $15,185,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. US Bancorp DE acquired a new stake in Stoneridge during the 3rd quarter worth about $46,000. nVerses Capital LLC acquired a new stake in Stoneridge during the 3rd quarter worth about $59,000. Olympiad Research LP acquired a new stake in Stoneridge during the 3rd quarter worth about $121,000. XTX Topco Ltd acquired a new stake in Stoneridge during the 2nd quarter worth about $176,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Stoneridge by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after acquiring an additional 1,226 shares during the period. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on SRI. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a report on Thursday, October 31st. StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday.

Stoneridge Stock Performance

Shares of SRI opened at $6.61 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The stock has a 50-day moving average of $9.93 and a 200-day moving average of $13.53. The company has a market cap of $182.89 million, a PE ratio of -24.44 and a beta of 1.36. Stoneridge, Inc. has a one year low of $6.49 and a one year high of $19.91.

Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.32). The firm had revenue of $213.80 million during the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.10 earnings per share. On average, equities research analysts predict that Stoneridge, Inc. will post -0.38 EPS for the current fiscal year.

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.