Stoneridge (NYSE:SRI) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Stoneridge, Inc. (NYSE:SRI) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.60 and traded as high as $7.45. Stoneridge shares last traded at $7.4180, with a volume of 137,265 shares trading hands.

Analysts Set New Price Targets

SRI has been the topic of a number of research reports. Wall Street Zen lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research note on Friday, March 27th. Zacks Research lowered shares of Stoneridge from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Finally, Barrington Research lowered shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Stoneridge currently has an average rating of “Sell” and an average target price of $16.00.

Stoneridge Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 2.02 and a quick ratio of 1.37. The firm’s 50 day moving average is $6.72 and its 200 day moving average is $6.60. The firm has a market cap of $209.48 million, a P/E ratio of -1.68 and a beta of 1.85.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Thursday, May 7th. The auto parts company reported ($0.75) EPS for the quarter, missing the consensus estimate 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 business had revenue of $160.85 million for the quarter, compared to the consensus estimate of $139.00 million. As a group, analysts anticipate that Stoneridge, Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling

In other Stoneridge news, Director Ira C. Kaplan acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of $7.54 per share, with a total value of $37,700.00. Following the completion of the purchase, the director directly owned 100,046 shares of the company’s stock, valued at approximately $754,346.84. The trade was a 5.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Stoneridge

Hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new stake in Stoneridge during the first quarter worth about $39,000. Quadrature Capital Ltd purchased a new position in Stoneridge in the fourth quarter worth about $61,000. NewEdge Advisors LLC purchased a new position in Stoneridge in the fourth quarter worth about $62,000. WINTON GROUP Ltd purchased a new position in Stoneridge in the fourth quarter worth about $69,000. Finally, Jain Global LLC purchased a new position in Stoneridge in the fourth quarter worth about $77,000. Institutional investors own 98.07% of the company’s stock.

About Stoneridge

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.