Stoneridge (NYSE:SRI) Stock Passes Above 200-Day Moving Average – What’s Next?

Stoneridge, Inc. (NYSE:SRI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 changing hands.

Analyst Ratings Changes

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

Stoneridge Stock Up 3.3%

The stock has a fifty day moving average of $6.78 and a 200 day moving average of $6.61. The firm has a market capitalization of $216.06 million, a P/E ratio of -1.73 and a beta of 1.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.02 and a quick ratio of 1.37.

Stoneridge (NYSE:SRI) last issued 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 business had revenue of $160.85 million for 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 anticipate that Stoneridge, Inc. will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stoneridge news, Director Ira C. Kaplan purchased 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director owned 100,046 shares of the company’s stock, valued at $754,346.84. The trade was a 5.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William M. Lasky bought 5,000 shares of the stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $7.46 per share, for a total transaction of $37,300.00. Following the completion of the purchase, the director owned 192,666 shares of the company’s stock, valued at approximately $1,437,288.36. This trade represents a 2.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 11.00% of the company’s stock.

Institutional Trading of Stoneridge

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Stoneridge by 113.3% in the first quarter. Bank of America Corp DE now owns 68,896 shares of the auto parts company’s stock valued at $333,000 after buying an additional 36,590 shares during the period. Empowered Funds LLC raised its stake in shares of Stoneridge by 174.2% in the first quarter. Empowered Funds LLC now owns 61,880 shares of the auto parts company’s stock valued at $299,000 after buying an additional 39,315 shares during the period. Sei Investments Co. raised its stake in shares of Stoneridge by 45.6% in the first quarter. Sei Investments Co. now owns 31,090 shares of the auto parts company’s stock valued at $150,000 after buying an additional 9,732 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Stoneridge in the first quarter valued at $90,000. Finally, Villere ST Denis J & Co. LLC raised its stake in shares of Stoneridge by 100.0% in the first quarter. Villere ST Denis J & Co. LLC now owns 30,000 shares of the auto parts company’s stock valued at $145,000 after buying an additional 15,000 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.