Stoneridge, Inc. (NYSE:SRI) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,708,100 shares, a decline of 14.1% from the July 31st total of 1,989,600 shares. Based on an average daily volume of 231,700 shares, the days-to-cover ratio is currently 7.4 days. Currently, 6.5% of the shares of the stock are short sold.
SRI traded up $0.12 during midday trading on Friday, hitting $33.31. The company’s stock had a trading volume of 175,790 shares, compared to its average volume of 234,158. The company has a current ratio of 2.06, a quick ratio of 1.44 and a debt-to-equity ratio of 0.42. The firm has a market cap of $890.99 million, a P/E ratio of 16.74, a PEG ratio of 2.23 and a beta of 1.33. The firm has a 50-day moving average price of $31.23 and a two-hundred day moving average price of $30.05. Stoneridge has a 52-week low of $21.91 and a 52-week high of $34.46.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. The company had revenue of $222.24 million during the quarter, compared to analysts’ expectations of $203.81 million. Stoneridge had a return on equity of 17.95% and a net margin of 8.69%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities analysts expect that Stoneridge will post 1.62 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hancock Whitney Corp grew its holdings in Stoneridge by 4.9% in the 2nd quarter. Hancock Whitney Corp now owns 58,557 shares of the auto parts company’s stock valued at $1,847,000 after buying an additional 2,750 shares during the period. Hodges Capital Management Inc. purchased a new stake in Stoneridge in the 2nd quarter valued at about $284,000. Equitable Trust Co. grew its holdings in Stoneridge by 3.4% in the 2nd quarter. Equitable Trust Co. now owns 23,380 shares of the auto parts company’s stock valued at $738,000 after buying an additional 770 shares during the period. Nuveen Asset Management LLC purchased a new stake in Stoneridge in the 2nd quarter valued at about $14,279,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Stoneridge by 8,017.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,181,223 shares of the auto parts company’s stock valued at $37,268,000 after buying an additional 1,166,672 shares during the period.
Several research analysts recently weighed in on the stock. ValuEngine raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut Stoneridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Barrington Research restated a “buy” rating and issued a $35.00 price target on shares of Stoneridge in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Stoneridge currently has an average rating of “Buy” and a consensus target price of $34.00.
Stoneridge Company Profile
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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