Raymond James Financial Inc. Takes Position in Stoneridge, Inc. (NYSE:SRI)

Raymond James Financial Inc. purchased a new position in shares of Stoneridge, Inc. (NYSE:SRI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 347,714 shares of the auto parts company’s stock, valued at approximately $2,180,000.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE boosted its holdings in shares of Stoneridge by 65.2% in the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after buying an additional 2,679 shares during the last quarter. Quarry LP bought a new stake in Stoneridge in the third quarter worth about $44,000. SG Americas Securities LLC purchased a new position in Stoneridge in the fourth quarter valued at about $74,000. Paloma Partners Management Co bought a new position in shares of Stoneridge during the 3rd quarter valued at approximately $139,000. Finally, Virtu Financial LLC purchased a new stake in shares of Stoneridge during the 3rd quarter worth approximately $146,000. 98.07% of the stock is currently owned by institutional investors.

Stoneridge Price Performance

Shares of NYSE:SRI opened at $4.63 on Monday. The company’s fifty day moving average price is $4.96 and its 200-day moving average price is $6.91. 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 firm has a market capitalization of $128.09 million, a price-to-earnings ratio of -17.13 and a beta of 1.27. Stoneridge, Inc. has a one year low of $4.11 and a one year high of $18.57.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.36). The business had revenue of $218.20 million for the quarter, compared to analysts’ expectations of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. On average, equities research analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SRI has been the subject of a number of recent research reports. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research report on Tuesday, March 4th. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a report on Saturday.

Stoneridge 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.