Stoneridge, Inc. (NYSE:SRI) Short Interest Update

Stoneridge, Inc. (NYSE:SRI) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 316,000 shares, a decrease of 28.4% from the August 15th total of 441,200 shares. Based on an average daily volume of 153,300 shares, the short-interest ratio is presently 2.1 days. Currently, 1.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Stoneridge

Hedge funds and other institutional investors have recently bought and sold shares of the company. Frontier Capital Management Co. LLC raised its position in shares of Stoneridge by 2.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,197,542 shares of the auto parts company’s stock worth $43,006,000 after acquiring an additional 43,602 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Stoneridge by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,531,421 shares of the auto parts company’s stock worth $29,970,000 after purchasing an additional 61,849 shares in the last quarter. Vanguard Group Inc. increased its holdings in Stoneridge by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,523,025 shares of the auto parts company’s stock worth $28,085,000 after purchasing an additional 44,600 shares in the last quarter. EVR Research LP lifted its stake in Stoneridge by 36.3% in the second quarter. EVR Research LP now owns 545,000 shares of the auto parts company’s stock valued at $8,698,000 after buying an additional 145,000 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Stoneridge by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,942 shares of the auto parts company’s stock worth $8,629,000 after buying an additional 25,357 shares in the last quarter. Institutional investors and hedge funds own 98.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SRI shares. StockNews.com upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stephens started coverage on shares of Stoneridge in a report on Monday, July 8th. They set an “overweight” rating on the stock.

Stoneridge Trading Up 4.3 %

Shares of SRI traded up $0.52 during mid-day trading on Friday, reaching $12.55. 150,677 shares of the company were exchanged, compared to its average volume of 99,272. The business has a 50 day simple moving average of $14.74 and a two-hundred day simple moving average of $15.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.31 and a current ratio of 2.27. The stock has a market capitalization of $347.38 million, a PE ratio of -89.64 and a beta of 1.32. Stoneridge has a 52 week low of $11.67 and a 52 week high of $20.52.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.19. Stoneridge had a net margin of 0.19% and a return on equity of 3.03%. The firm had revenue of $237.10 million during the quarter, compared to analyst estimates of $242.90 million. During the same quarter last year, the business earned ($0.05) EPS. The company’s revenue was down 11.1% compared to the same quarter last year. On average, analysts predict that Stoneridge will post 0.13 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.