Stoneridge (NYSE:SRI) Shares Cross Above 200 Day Moving Average After Analyst Downgrade

Stoneridge, Inc. (NYSE:SRI) shares crossed above its 200-day moving average during trading on Thursday after Zacks Research upgraded the stock to a hold rating. 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.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a report on Monday, December 29th. Barrington Research cut Stoneridge from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Finally, Wall Street Zen upgraded Stoneridge from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. 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, Stoneridge has an average rating of “Sell” and an average target price of $16.00.

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently made changes to their positions in the company. 22NW LP lifted its holdings in shares of 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 period. Vanguard Group Inc. lifted its holdings in shares of Stoneridge by 3.5% in 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 shares of Stoneridge by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock worth $6,430,000 after buying an additional 47,135 shares during the period. AYAL Capital Advisors Ltd lifted its holdings in shares of Stoneridge by 2.1% in the 4th quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock worth $6,305,000 after buying an additional 22,330 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Stoneridge by 3.0% in the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock worth $4,382,000 after buying an additional 28,037 shares during the period. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

Stoneridge Trading Down 4.8%

The stock has a market capitalization of $210.30 million, a P/E ratio of -1.69 and a beta of 1.85. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $6.34 and a 200 day moving average price of $6.50.

Stoneridge (NYSE:SRI) last released its quarterly earnings results 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). The company had revenue of $160.85 million during the quarter, compared to the consensus estimate of $139.00 million. Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%. On average, research analysts forecast that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.

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.