Royce & Associates LP Lowers Stock Holdings in Stoneridge, Inc. $SRI

Royce & Associates LP lowered its holdings in Stoneridge, Inc. (NYSE:SRI) by 42.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 591,741 shares of the auto parts company’s stock after selling 443,956 shares during the period. Royce & Associates LP’s holdings in Stoneridge were worth $3,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SRI. Arrowstreet Capital Limited Partnership grew its position in shares of Stoneridge by 285.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock valued at $3,948,000 after purchasing an additional 383,805 shares during the period. AQR Capital Management LLC grew its position in shares of Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after purchasing an additional 363,407 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Stoneridge by 340.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock valued at $1,487,000 after purchasing an additional 198,423 shares during the period. Marshall Wace LLP grew its position in shares of Stoneridge by 186.7% in the second quarter. Marshall Wace LLP now owns 293,987 shares of the auto parts company’s stock valued at $2,070,000 after purchasing an additional 191,444 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Stoneridge by 55.9% in the first quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock valued at $2,250,000 after purchasing an additional 175,736 shares during the period. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Stoneridge Price Performance

SRI stock opened at $7.45 on Friday. The stock has a 50-day moving average price of $6.34 and a two-hundred day moving average price of $6.50. Stoneridge, Inc. has a 12-month low of $4.60 and a 12-month high of $9.71. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00. The company has a market cap of $210.30 million, a PE ratio of -1.69 and a beta of 1.85.

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

Wall Street Analysts Forecast Growth

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

Stoneridge Company Profile

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.