EVR Research LP Raises Stake in Stoneridge, Inc. (NYSE:SRI)

EVR Research LP raised its position in Stoneridge, Inc. (NYSE:SRI) by 36.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 545,000 shares of the auto parts company’s stock after acquiring an additional 145,000 shares during the quarter. Stoneridge makes up about 2.6% of EVR Research LP’s holdings, making the stock its 14th biggest holding. EVR Research LP owned about 1.97% of Stoneridge worth $8,698,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SRI. Charles Schwab Investment Management Inc. lifted its position in shares of Stoneridge by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,942 shares of the auto parts company’s stock worth $8,629,000 after buying an additional 25,357 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Stoneridge by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,531,421 shares of the auto parts company’s stock worth $29,970,000 after buying an additional 61,849 shares during the last quarter. Ranger Investment Management L.P. lifted its position in shares of Stoneridge by 35.1% during the 4th quarter. Ranger Investment Management L.P. now owns 373,180 shares of the auto parts company’s stock worth $7,303,000 after buying an additional 97,051 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Stoneridge by 2.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,197,542 shares of the auto parts company’s stock worth $43,006,000 after buying an additional 43,602 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Stoneridge by 28.0% during the 1st quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock worth $241,000 after buying an additional 2,861 shares during the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Stoneridge Stock Performance

Shares of SRI opened at $11.04 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.31 and a current ratio of 2.27. The stock has a market capitalization of $305.49 million, a P/E ratio of -78.86 and a beta of 1.32. The company’s fifty day moving average is $14.14 and its two-hundred day moving average is $15.44. Stoneridge, Inc. has a 1 year low of $10.99 and a 1 year high of $20.26.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.19. The company had revenue of $237.10 million for the quarter, compared to analysts’ expectations of $242.90 million. Stoneridge had a net margin of 0.19% and a return on equity of 3.03%. Stoneridge’s revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, sell-side analysts predict that Stoneridge, Inc. will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SRI. StockNews.com raised shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stephens began coverage on shares of Stoneridge in a report on Monday, July 8th. They issued an “overweight” rating on the stock.

About Stoneridge

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.