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

Stoneridge, Inc. (NYSE:SRI) was the target of a significant drop in short interest during the month of November. As of November 29th, there was short interest totalling 963,400 shares, a drop of 9.1% from the November 14th total of 1,060,000 shares. Approximately 3.7% of the shares of the company are sold short. Based on an average trading volume of 187,000 shares, the short-interest ratio is presently 5.2 days.

Shares of NYSE:SRI traded down $0.93 during trading on Friday, reaching $31.07. 173,283 shares of the stock were exchanged, compared to its average volume of 159,039. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.42 and a current ratio of 2.06. Stoneridge has a 12-month low of $21.91 and a 12-month high of $34.46. The firm has a market cap of $876.20 million, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. The firm’s 50-day moving average price is $30.67 and its 200 day moving average price is $30.76.

Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. Stoneridge had a return on equity of 16.59% and a net margin of 7.97%. The business had revenue of $203.39 million for the quarter, compared to analyst estimates of $203.21 million. During the same period in the prior year, the company posted $0.47 EPS. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that Stoneridge will post 1.52 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in shares of Stoneridge by 279.1% during the third quarter. Meeder Asset Management Inc. now owns 2,267 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 1,669 shares during the last quarter. First Mercantile Trust Co. acquired a new stake in Stoneridge during the 2nd quarter worth about $109,000. Tower Research Capital LLC TRC acquired a new stake in Stoneridge during the 2nd quarter worth about $173,000. Zebra Capital Management LLC acquired a new stake in Stoneridge during the 2nd quarter worth about $214,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Stoneridge in the 2nd quarter valued at about $230,000. 98.41% of the stock is owned by institutional investors.

A number of equities analysts recently weighed in on SRI shares. ValuEngine lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. B. Riley set a $33.00 target price on shares of Stoneridge and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research cut Stoneridge from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $33.80.

About Stoneridge

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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