Stoneridge (NYSE:SRI) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Stoneridge, Inc. (NYSE:SRI) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.68 and traded as high as $7.65. Stoneridge shares last traded at $7.6010, with a volume of 105,070 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SRI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a report on Friday, March 27th. Barrington Research downgraded shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Wall Street Zen lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Zacks Research cut 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. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $16.00.

Stoneridge Trading Up 0.0%

The company has a market capitalization of $214.65 million, a price-to-earnings ratio of -1.72 and a beta of 1.85. The firm has a 50-day moving average price of $7.04 and a 200-day moving average price of $6.68. The company has a current ratio of 2.02, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00.

Stoneridge (NYSE:SRI) last announced 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 firm had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. As a group, sell-side analysts predict that Stoneridge, Inc. will post -0.74 EPS for the current year.

Insider Activity at Stoneridge

In other Stoneridge news, Director Ira C. Kaplan bought 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 acquisition, the director directly owned 100,046 shares of the company’s stock, valued at $754,346.84. This trade represents a 5.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director William M. Lasky bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $7.46 per share, for a total transaction of $37,300.00. Following the completion of the acquisition, the director directly owned 192,666 shares in the company, valued at approximately $1,437,288.36. This represents a 2.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Stoneridge during the 1st quarter worth $39,000. Quadrature Capital Ltd acquired a new position in shares of Stoneridge in the 4th quarter worth $61,000. NewEdge Advisors LLC acquired a new stake in shares of Stoneridge during the fourth quarter worth $62,000. WINTON GROUP Ltd acquired a new stake in shares of Stoneridge during the fourth quarter worth $69,000. Finally, Jain Global LLC purchased a new stake in shares of Stoneridge during the fourth quarter valued at $77,000. Institutional investors and hedge funds own 98.07% of the company’s stock.

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.