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

Stoneridge, Inc. (NYSE:SRI) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.74 and traded as high as $7.61. Stoneridge shares last traded at $7.5490, with a volume of 303,864 shares trading hands.

Analyst Upgrades and Downgrades

SRI has been the topic of several recent research reports. Zacks Research cut Stoneridge from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research report on Wednesday, June 24th. Barrington Research cut shares of Stoneridge from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Finally, Wall Street Zen cut shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus price target of $16.00.

Stoneridge Price Performance

The firm’s fifty day simple moving average is $7.17 and its 200-day simple moving average is $6.74. The firm has a market capitalization of $213.18 million, a PE ratio of -1.71 and a beta of 1.85. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00.

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

Insider Buying and Selling at Stoneridge

In other Stoneridge news, Director Ira C. Kaplan bought 5,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average cost of $7.54 per share, for a total transaction of $37,700.00. Following the purchase, the director owned 100,046 shares in the company, valued at approximately $754,346.84. This trade represents a 5.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Lasky bought 5,000 shares of Stoneridge stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $7.46 per share, with a total value of $37,300.00. Following the acquisition, the director owned 192,666 shares in the company, valued at approximately $1,437,288.36. This represents a 2.66% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Stoneridge

Several large investors have recently bought and sold shares of SRI. 22NW LP raised its position in Stoneridge by 4.1% in the 4th quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock worth $12,696,000 after buying an additional 87,164 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Stoneridge by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock valued at $11,540,000 after acquiring an additional 51,263 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Stoneridge by 4.4% during the 4th quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock valued at $6,430,000 after acquiring an additional 47,135 shares during the last quarter. AYAL Capital Advisors Ltd grew its stake in shares of Stoneridge by 2.1% in the fourth quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock worth $6,305,000 after acquiring an additional 22,330 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Stoneridge by 3.0% in the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock worth $4,382,000 after acquiring an additional 28,037 shares during the period. 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.