Stoneridge (NYSE:SRI) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Stoneridge, Inc. (NYSE:SRI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.74 and traded as high as $7.61. Stoneridge shares last traded at $7.5490, with a volume of 303,864 shares.

Analysts Set New Price Targets

SRI has been the subject of several recent analyst reports. Barrington Research downgraded Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a research note on Wednesday, June 24th. Wall Street Zen downgraded Stoneridge from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Zacks Research downgraded 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $16.00.

Stoneridge Stock Down 1.3%

The company has a debt-to-equity ratio of 1.00, a current ratio of 2.02 and a quick ratio of 1.37. The stock’s fifty day simple moving average is $7.18 and its 200-day simple moving average is $6.75. The stock has a market cap of $204.03 million, a P/E ratio of -1.64 and a beta of 1.85.

Stoneridge (NYSE:SRI) last posted its earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $160.85 million during the quarter, compared to the consensus estimate of $139.00 million. On average, research analysts anticipate that Stoneridge, Inc. will post -0.74 earnings per share for the current year.

Insider Transactions at Stoneridge

In other news, Director Ira C. Kaplan bought 5,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average price of $7.54 per share, for a total transaction of $37,700.00. Following the transaction, the director owned 100,046 shares in the company, valued at approximately $754,346.84. This trade represents a 5.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William M. Lasky purchased 5,000 shares of the company’s 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 purchase, the director directly owned 192,666 shares of the company’s stock, valued at $1,437,288.36. This trade represents a 2.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 11.00% of the company’s stock.

Institutional Trading of Stoneridge

Several large investors have recently added to or reduced their stakes in SRI. Strs Ohio acquired a new position in Stoneridge during the 1st quarter worth $39,000. Quadrature Capital Ltd bought a new stake in shares of Stoneridge during the fourth quarter valued at about $61,000. NewEdge Advisors LLC bought a new stake in shares of Stoneridge during the fourth quarter valued at about $62,000. WINTON GROUP Ltd acquired a new stake in Stoneridge in the fourth quarter worth about $69,000. Finally, Jain Global LLC acquired a new stake in Stoneridge in the fourth quarter worth about $77,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

About Stoneridge

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.