Stoneridge (NYSE:SRI) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Stoneridge, Inc. (NYSE:SRI) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.78 and traded as high as $7.23. Stoneridge shares last traded at $7.1440, with a volume of 193,904 shares trading hands.

Analyst Ratings Changes

SRI has been the topic of several research analyst reports. Barrington Research downgraded shares of Stoneridge from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Zacks Research cut shares of Stoneridge from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $16.00.

Stoneridge Stock Down 0.5%

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 company has a market capitalization of $201.75 million, a price-to-earnings ratio of -1.62 and a beta of 1.85. The firm has a 50-day moving average price of $7.21 and a two-hundred day moving average price of $6.78.

Stoneridge (NYSE:SRI) last announced 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). The firm had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%. As a group, sell-side analysts anticipate that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stoneridge news, Director William M. Lasky purchased 5,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost 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 $1,437,288.36. This represents a 2.66% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira C. Kaplan acquired 5,000 shares of Stoneridge stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average price of $7.54 per share, with a total value of $37,700.00. Following the completion of the purchase, the director owned 100,046 shares in the company, valued at approximately $754,346.84. The trade was a 5.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 11.00% of the stock is owned by company insiders.

Institutional Trading of Stoneridge

Several institutional investors and hedge funds have recently bought and sold shares of SRI. AQR Capital Management LLC boosted its position in Stoneridge by 213.7% during the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after purchasing an additional 363,407 shares during the last quarter. Millennium Management LLC increased its position in shares of Stoneridge by 3.0% during the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock worth $4,382,000 after purchasing an additional 28,037 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Stoneridge by 55.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock worth $2,250,000 after purchasing an additional 175,736 shares in the last quarter. Strs Ohio bought a new stake in shares of Stoneridge during the 1st quarter worth approximately $39,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Stoneridge by 25.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 614,538 shares of the auto parts company’s stock valued at $4,326,000 after buying an additional 122,897 shares during the last quarter. 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.