Price T Rowe Associates Inc. MD Lowers Stock Holdings in Stoneridge, Inc. (NYSE:SRI)

Price T Rowe Associates Inc. MD lowered its holdings in shares of Stoneridge, Inc. (NYSE:SRI) by 39.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 49,790 shares of the auto parts company’s stock after selling 32,896 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Stoneridge were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SRI. Rhumbline Advisers increased its holdings in shares of Stoneridge by 4.9% in the fourth quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock valued at $304,000 after purchasing an additional 2,274 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Stoneridge by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock valued at $3,882,000 after purchasing an additional 2,543 shares during the last quarter. US Bancorp DE increased its stake in Stoneridge by 65.2% during the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after acquiring an additional 2,679 shares during the last quarter. Wells Fargo & Company MN increased its stake in Stoneridge by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock worth $100,000 after acquiring an additional 3,490 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in Stoneridge during the fourth quarter worth $25,000. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on SRI. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Stoneridge in a research note on Thursday, May 1st.

Stoneridge Trading Up 4.0%

NYSE:SRI opened at $4.96 on Friday. The firm has a market cap of $138.11 million, a PE ratio of -18.37 and a beta of 1.22. The stock has a fifty day moving average price of $4.42 and a 200 day moving average price of $5.39. Stoneridge, Inc. has a 12-month low of $3.54 and a 12-month high of $18.40. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The business had revenue of $217.89 million for the quarter, compared to analysts’ expectations of $212.42 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. Sell-side analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share 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.