Stoneridge, Inc. (NYSE:SRI) Short Interest Down 18.9% in March

Stoneridge, Inc. (NYSE:SRI) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 365,300 shares, a drop of 18.9% from the February 28th total of 450,500 shares. Based on an average daily trading volume, of 381,600 shares, the short-interest ratio is presently 1.0 days. Approximately 1.4% of the company’s shares are short sold.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a report on Tuesday, March 4th. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research report on Saturday.

Stoneridge Trading Down 0.3 %

NYSE SRI opened at $4.62 on Tuesday. The company has a market capitalization of $127.81 million, a price-to-earnings ratio of -17.09 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. Stoneridge has a 12 month low of $4.11 and a 12 month high of $18.57. The company’s fifty day moving average price is $4.93 and its two-hundred day moving average price is $6.86.

Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.36). The company had revenue of $218.20 million for the quarter, compared to the consensus estimate of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. As a group, research analysts predict that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SRI. Rhumbline Advisers raised its position in shares of Stoneridge by 4.9% during the 4th quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock valued at $304,000 after acquiring an additional 2,274 shares in the last quarter. Geode Capital Management LLC increased its stake in Stoneridge by 0.4% during 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 raised its holdings in shares of 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 purchasing an additional 2,679 shares during the period. XTX Topco Ltd lifted its position in shares of Stoneridge by 25.7% in the 3rd quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock worth $155,000 after buying an additional 2,833 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Stoneridge by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock valued at $100,000 after buying an additional 3,490 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

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.