Massachusetts Financial Services Co. MA raised its position in shares of Stoneridge, Inc. (NYSE:SRI) by 145.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,168,404 shares of the auto parts company’s stock after acquiring an additional 692,760 shares during the period. Massachusetts Financial Services Co. MA owned approximately 4.10% of Stoneridge worth $34,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of SRI. Pembroke Management LTD raised its holdings in Stoneridge by 8.9% during the 2nd quarter. Pembroke Management LTD now owns 716,961 shares of the auto parts company’s stock valued at $25,194,000 after buying an additional 58,538 shares during the period. Peregrine Capital Management LLC purchased a new stake in Stoneridge during the 3rd quarter valued at $5,797,000. Engineers Gate Manager LP raised its holdings in Stoneridge by 71.4% during the 2nd quarter. Engineers Gate Manager LP now owns 45,382 shares of the auto parts company’s stock valued at $1,595,000 after buying an additional 18,910 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in Stoneridge during the 2nd quarter valued at $2,842,000. Finally, Russell Investments Group Ltd. raised its holdings in Stoneridge by 47.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 111,312 shares of the auto parts company’s stock valued at $3,980,000 after buying an additional 35,688 shares during the period. 89.74% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. Stephens set a $35.00 price target on Stoneridge and gave the company a “buy” rating in a report on Tuesday, October 30th. Barrington Research set a $50.00 price target on Stoneridge and gave the company a “buy” rating in a report on Monday, October 29th. Zacks Investment Research lowered Stoneridge from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Buckingham Research decreased their price target on Stoneridge from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, October 3rd. Finally, ValuEngine lowered Stoneridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $34.17.
Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Friday, October 26th. The auto parts company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The company had revenue of $208.90 million for the quarter, compared to the consensus estimate of $204.36 million. Stoneridge had a return on equity of 21.77% and a net margin of 7.09%. Stoneridge’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities analysts expect that Stoneridge, Inc. will post 2.04 EPS for the current fiscal year.
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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