Stoneridge (NYSE:SRI) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

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 $6.91 and traded as high as $7.36. Stoneridge shares last traded at $7.2390, with a volume of 73,206 shares traded.

Analysts Set New Price Targets

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

Stoneridge Stock Performance

The firm’s 50-day moving average price is $7.20 and its two-hundred day moving average price is $6.91. The company has a quick ratio of 1.27, a current ratio of 1.89 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $206.46 million, a PE ratio of -1.70 and a beta of 1.88.

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

Insiders Place Their Bets

In other Stoneridge news, CEO Natalia Noblet purchased 5,000 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $7.31 per share, for a total transaction of $36,550.00. Following the completion of the acquisition, the chief executive officer owned 5,000 shares of the company’s stock, valued at $36,550. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott Humphrey purchased 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average cost of $7.01 per share, for a total transaction of $42,060.00. Following the completion of the transaction, the chief financial officer directly owned 6,000 shares of the company’s stock, valued at $42,060. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors have recently bought and sold shares of SRI. BlackRock Inc. purchased a new stake in Stoneridge in the 2nd quarter worth approximately $18,734,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Stoneridge by 285.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock valued at $3,948,000 after acquiring an additional 383,805 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock worth $2,449,000 after acquiring an additional 363,407 shares during the last quarter. Man Group plc acquired a new position in shares of Stoneridge in the second quarter worth $2,049,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Stoneridge by 50.0% during the fourth quarter. Russell Investments Group Ltd. now owns 575,670 shares of the auto parts company’s stock worth $3,333,000 after acquiring an additional 191,953 shares in the last quarter. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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.