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

Shares of Stoneridge, Inc. (NYSE:SRI) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.78 and traded as high as $7.23. Stoneridge shares last traded at $7.1440, with a volume of 193,904 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on SRI shares. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Barrington Research lowered shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Finally, Zacks Research lowered shares of Stoneridge from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and an average price target of $16.00.

Stoneridge Stock Down 0.5%

The firm has a fifty day moving average price of $7.21 and a 200 day moving average price of $6.78. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00. The company has a market cap of $201.75 million, a P/E ratio of -1.62 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) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.76). Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%. The company had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. Equities research analysts forecast that Stoneridge, Inc. will post -0.74 earnings per share for the current year.

Insider Activity at Stoneridge

In other Stoneridge news, Director William M. Lasky bought 5,000 shares of Stoneridge stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $7.46 per share, with a total value of $37,300.00. Following the purchase, the director owned 192,666 shares of the company’s stock, valued at $1,437,288.36. This trade represents a 2.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ira C. Kaplan bought 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average cost of $7.54 per share, with a total value of $37,700.00. Following the acquisition, the director directly owned 100,046 shares in the company, valued at approximately $754,346.84. This trade represents a 5.26% increase in their position. The disclosure for this purchase is available in the SEC filing. 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 boosted its position in shares of Stoneridge by 4.1% during the fourth quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock worth $12,696,000 after purchasing an additional 87,164 shares in the last quarter. Vanguard Group Inc. raised its stake in Stoneridge by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock worth $11,540,000 after buying an additional 51,263 shares during the period. Federated Hermes Inc. lifted its holdings in Stoneridge by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock worth $6,430,000 after acquiring an additional 47,135 shares in the last quarter. AYAL Capital Advisors Ltd lifted its holdings in Stoneridge by 2.1% during 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 in the last quarter. Finally, Millennium Management LLC grew its stake in Stoneridge by 3.0% in the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after acquiring an additional 28,037 shares during the period. 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.