Raymond James Financial Inc. Invests $2.18 Million in Stoneridge, Inc. (NYSE:SRI)

Raymond James Financial Inc. bought a new stake in Stoneridge, Inc. (NYSE:SRI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 347,714 shares of the auto parts company's stock, valued at approximately $2,180,000. Raymond James Financial Inc. owned 1.26% of Stoneridge as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in shares of Stoneridge by 230.8% in the 4th quarter. Renaissance Technologies LLC now owns 246,100 shares of the auto parts company's stock worth $1,543,000 after purchasing an additional 171,700 shares during the period. Federated Hermes Inc. purchased a new stake in Stoneridge during the fourth quarter valued at approximately $25,000. Aristides Capital LLC bought a new position in Stoneridge in the fourth quarter worth approximately $164,000. Wells Fargo & Company MN boosted its stake in shares of Stoneridge by 27.9% during the 4th 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, Trexquant Investment LP grew its position in shares of Stoneridge by 383.4% during the 4th quarter. Trexquant Investment LP now owns 224,193 shares of the auto parts company's stock valued at $1,406,000 after acquiring an additional 177,814 shares during the period. 98.07% of the stock is owned by hedge funds and other institutional investors.

Stoneridge Price Performance

Shares of SRI traded up $0.09 during mid-day trading on Tuesday, reaching $4.40. The stock had a trading volume of 726,214 shares, compared to its average volume of 270,069. The business has a fifty day moving average of $4.52 and a 200 day moving average of $5.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The firm has a market cap of $122.38 million, a price-to-earnings ratio of -16.28 and a beta of 1.22. Stoneridge, Inc. has a 12 month low of $3.54 and a 12 month high of $18.40.

Stoneridge (NYSE:SRI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $217.89 million during the quarter, compared to the consensus estimate of $212.42 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. Equities analysts predict that Stoneridge, Inc. will post -0.42 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on SRI shares. StockNews.com cut Stoneridge from a "buy" rating to a "hold" rating in a report on Monday. Barrington Research restated an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a research report on Thursday, May 1st.

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.