Peregrine Capital Management LLC raised its position in Stoneridge, Inc. (NYSE:SRI) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,820 shares of the auto parts company’s stock after acquiring an additional 3,904 shares during the quarter. Peregrine Capital Management LLC owned approximately 1.00% of Stoneridge worth $5,595,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRI. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Stoneridge by 95.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,296 shares of the auto parts company’s stock valued at $68,000 after acquiring an additional 1,611 shares in the last quarter. First Mercantile Trust Co. grew its position in Stoneridge by 177.2% in the 1st quarter. First Mercantile Trust Co. now owns 8,584 shares of the auto parts company’s stock valued at $144,000 after acquiring an additional 5,487 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Stoneridge by 12.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,096 shares of the auto parts company’s stock valued at $152,000 after acquiring an additional 989 shares in the last quarter. Aperio Group LLC grew its position in Stoneridge by 36.3% in the 1st quarter. Aperio Group LLC now owns 10,807 shares of the auto parts company’s stock valued at $181,000 after acquiring an additional 2,877 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Stoneridge by 26.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 12,775 shares of the auto parts company’s stock valued at $214,000 after acquiring an additional 2,641 shares in the last quarter. 97.09% of the stock is owned by institutional investors.
Shares of Stoneridge stock opened at $20.72 on Friday. Stoneridge, Inc. has a one year low of $13.87 and a one year high of $33.94. The company has a market cap of $559.29 million, a PE ratio of -71.45 and a beta of 1.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.94 and a current ratio of 2.68. The business has a 50-day simple moving average of $20.14 and a 200-day simple moving average of $21.30.
Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported ($0.55) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.11. The business had revenue of $99.55 million during the quarter, compared to the consensus estimate of $96.87 million. Stoneridge had a positive return on equity of 3.09% and a negative net margin of 1.09%. The business’s revenue for the quarter was down 55.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. On average, sell-side analysts predict that Stoneridge, Inc. will post -0.67 earnings per share for the current fiscal year.
SRI has been the subject of several research reports. B. Riley dropped their target price on Stoneridge from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Zacks Investment Research downgraded Stoneridge from a “hold” rating to a “sell” rating in a research report on Tuesday, June 16th. Barrington Research reissued a “hold” rating on shares of Stoneridge in a research report on Monday, July 27th. Finally, ValuEngine raised Stoneridge from a “hold” rating to a “buy” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.67.
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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