Stoneridge (NYSE:SRI) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

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 $6.50 and traded as high as $7.01. Stoneridge shares last traded at $7.00, with a volume of 173,842 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Stoneridge in a report on Wednesday, October 8th. Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a report on Wednesday, August 20th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.00.

Stoneridge Stock Performance

The firm has a market capitalization of $196.04 million, a PE ratio of -6.48 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The business’s 50 day simple moving average is $7.80 and its two-hundred day simple moving average is $6.50.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.16). The company had revenue of $227.95 million for the quarter, compared to analysts’ expectations of $219.90 million. Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. Research analysts expect that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Stoneridge by 78.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,937 shares of the auto parts company’s stock valued at $408,000 after buying an additional 39,028 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Stoneridge during the 2nd quarter valued at $92,000. Acadian Asset Management LLC grew its position in shares of Stoneridge by 35.5% during the 1st quarter. Acadian Asset Management LLC now owns 593,617 shares of the auto parts company’s stock valued at $2,720,000 after acquiring an additional 155,673 shares during the period. 22NW LP grew its position in shares of Stoneridge by 374.8% during the 1st quarter. 22NW LP now owns 1,627,653 shares of the auto parts company’s stock valued at $7,471,000 after acquiring an additional 1,284,866 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of Stoneridge by 366.2% during the 1st quarter. GSA Capital Partners LLP now owns 273,563 shares of the auto parts company’s stock valued at $1,256,000 after acquiring an additional 214,888 shares during the period. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

Stoneridge Company Profile

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.