Stoneridge (NYSE:SRI) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Stoneridge, Inc. (NYSE:SRI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.49 and traded as high as $7.93. Stoneridge shares last traded at $7.8190, with a volume of 129,213 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on SRI. Barrington Research downgraded Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Zacks Research raised Stoneridge to a “hold” rating in a research report on Wednesday, March 18th. Wall Street Zen downgraded Stoneridge from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Friday, March 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $16.00.

Stoneridge Trading Up 1.2%

The stock has a market cap of $220.81 million, a price-to-earnings ratio of -1.77 and a beta of 1.85. The business has a 50-day simple moving average of $6.30 and a two-hundred day simple moving average of $6.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.02 and a quick ratio of 1.37.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.76). Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%.The firm had revenue of $160.85 million for the quarter, compared to the consensus estimate of $139.00 million. Equities analysts forecast that Stoneridge, Inc. will post -0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in shares of Stoneridge by 340.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock valued at $1,487,000 after buying an additional 198,423 shares during the period. 22NW LP boosted its stake in shares of Stoneridge by 8.3% in the third quarter. 22NW LP now owns 2,105,600 shares of the auto parts company’s stock valued at $16,045,000 after buying an additional 162,092 shares during the period. Teton Advisors LLC bought a new stake in shares of Stoneridge in the third quarter valued at approximately $198,000. AlphaQuest LLC bought a new stake in Stoneridge during the third quarter worth $193,000. Finally, Villere ST Denis J & Co. LLC lifted its stake in Stoneridge by 100.0% during the first quarter. Villere ST Denis J & Co. LLC now owns 30,000 shares of the auto parts company’s stock worth $145,000 after purchasing an additional 15,000 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors.

Stoneridge Company Profile

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.