Stoneridge (NYSE:SRI) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Stoneridge, Inc. (NYSE:SRI) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.98 and traded as high as $7.11. Stoneridge shares last traded at $7.07, with a volume of 150,028 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. Zacks Research upgraded shares of Stoneridge from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $16.00.

Stoneridge Stock Performance

The business has a fifty day simple moving average of $7.18 and a two-hundred day simple moving average of $6.97. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.89 and a quick ratio of 1.27. The company has a market cap of $203.37 million, a PE ratio of -1.67 and a beta of 1.88.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.26). The company had revenue of $181.38 million for the quarter, compared to the consensus estimate of $161.85 million. Stoneridge had a negative net margin of 15.64% and a negative return on equity of 24.91%. Research analysts anticipate that Stoneridge, Inc. will post -0.82 earnings per share for the current year.

Insider Activity

In other news, Director William Lasky acquired 5,000 shares of Stoneridge stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $7.46 per share, for a total transaction of $37,300.00. Following the completion of the purchase, the director directly owned 192,666 shares in the company, valued at $1,437,288.36. This trade represents a 2.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Natalia Noblet bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $7.31 per share, with a total value of $36,550.00. Following the acquisition, the chief executive officer directly owned 5,000 shares of the company’s stock, valued at approximately $36,550. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 16,000 shares of company stock valued at $115,910. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Stoneridge

Institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its holdings in shares of Stoneridge by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 93,729 shares of the auto parts company’s stock valued at $714,000 after acquiring an additional 1,815 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Stoneridge by 1.9% in the fourth quarter. Jane Street Group LLC now owns 115,259 shares of the auto parts company’s stock worth $667,000 after acquiring an additional 2,178 shares during the period. State Street Corp raised its holdings in shares of Stoneridge by 2.6% during the fourth quarter. State Street Corp now owns 134,334 shares of the auto parts company’s stock worth $778,000 after purchasing an additional 3,400 shares during the last quarter. Algert Global LLC raised its holdings in shares of Stoneridge by 19.8% during the third quarter. Algert Global LLC now owns 25,880 shares of the auto parts company’s stock worth $197,000 after purchasing an additional 4,270 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Stoneridge by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 317,846 shares of the auto parts company’s stock valued at $1,841,000 after purchasing an additional 4,545 shares during the period. 98.07% of the stock is owned by hedge funds and other 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.