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

Stoneridge, Inc. (NYSE:SRI) passed above its 200-day moving average during trading on Friday . The stock has a 200-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 changing hands.

Wall Street Analysts Forecast Growth

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

Stoneridge Stock Performance

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

Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.76). Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%.The company had revenue of $160.85 million for the quarter, compared to analyst estimates of $139.00 million. As a group, analysts anticipate that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ira C. Kaplan purchased 5,000 shares of Stoneridge stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average price of $7.54 per share, with a total value of $37,700.00. Following the completion of the acquisition, the director owned 100,046 shares in the company, valued at $754,346.84. The trade was a 5.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William M. Lasky purchased 5,000 shares of the stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $7.46 per share, with a total value of $37,300.00. Following the transaction, the director directly owned 192,666 shares of the company’s stock, valued at approximately $1,437,288.36. The trade was a 2.66% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Stoneridge

A number of hedge funds have recently made changes to their positions in SRI. Strs Ohio acquired a new position in shares of Stoneridge during the first quarter worth approximately $39,000. Quadrature Capital Ltd acquired a new stake in Stoneridge in the 4th quarter valued at approximately $61,000. NewEdge Advisors LLC bought a new stake in Stoneridge during the 4th quarter valued at $62,000. WINTON GROUP Ltd bought a new stake in Stoneridge during the 4th quarter valued at $69,000. Finally, Jain Global LLC acquired a new position in Stoneridge during the 4th quarter worth $77,000. Institutional investors 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.