Stoneridge, Inc. (NYSE:SRI) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 375,364 shares, a decrease of 49.8% from the October 15th total of 747,590 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 351,170 shares, the short-interest ratio is presently 1.1 days.

Hedge funds have recently made changes to their positions in the company. Peregrine Capital Management LLC bought a new stake in shares of Stoneridge during the 3rd quarter valued at $5,797,000. Pembroke Management LTD raised its position in shares of 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 purchasing an additional 58,538 shares during the period. Engineers Gate Manager LP raised its position in shares of 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 purchasing an additional 18,910 shares during the period. Cornerstone Wealth Management LLC bought a new stake in shares of Stoneridge during the 2nd quarter valued at $2,842,000. Finally, Russell Investments Group Ltd. raised its position in shares of 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 purchasing an additional 35,688 shares during the period. Hedge funds and other institutional investors own 90.95% of the company’s stock.

SRI has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Barrington Research set a $50.00 price target on shares of Stoneridge and gave the stock a “buy” rating in a research report on Monday, October 29th. Stephens set a $35.00 price target on shares of Stoneridge and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research downgraded shares of Stoneridge from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Finally, Buckingham Research decreased their price target on shares of Stoneridge from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $34.17.

Shares of SRI stock opened at $26.58 on Wednesday. The firm has a market cap of $737.46 million, a PE ratio of 16.96, a PEG ratio of 1.50 and a beta of 1.10. Stoneridge has a one year low of $20.78 and a one year high of $37.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.60 and a current ratio of 2.20.

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 firm had revenue of $208.90 million for the quarter, compared to the consensus estimate of $204.36 million. Stoneridge had a net margin of 7.09% and a return on equity of 21.77%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. On average, equities analysts forecast that Stoneridge will post 2.04 EPS for the current fiscal year.

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About Stoneridge

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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