Stoneridge (NYSE:SRI) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Stoneridge shares crossed above their 200-day moving average, reaching $7.30 and last trading near $7.19, compared with a 200-day average of $6.87.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $16 price target, while its latest quarterly loss of $0.18 per share significantly missed the $0.08 consensus estimate despite revenue exceeding forecasts.
• Company insiders recently bought shares, including 5,000 by the CEO and 6,000 by the CFO. Institutional ownership is also substantial at 98.07%, with BlackRock and Man Group among investors establishing new positions.

Shares of Stoneridge, Inc. (NYSE:SRI - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.87 and traded as high as $7.30. Stoneridge shares last traded at $7.1850, with a volume of 257,533 shares.

Analyst Ratings Changes

SRI has been the subject of a number of research reports. Zacks Research raised Stoneridge from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Stoneridge in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $16.00.

Stoneridge Price Performance

The company's 50 day moving average price is $7.19 and its 200-day moving average price is $6.87. The company has a market cap of $204.92 million, a price-to-earnings ratio of -1.69 and a beta of 1.88. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.27 and a current ratio of 1.89.

Stoneridge (NYSE:SRI - Get Free Report) last released its 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). The business had revenue of $181.38 million for the quarter, compared to analyst estimates of $161.85 million. Stoneridge had a negative net margin of 15.64% and a negative return on equity of 24.91%. On average, equities research analysts forecast that Stoneridge, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Stoneridge

In related news, CEO Natalia Noblet acquired 5,000 shares of Stoneridge stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $7.31 per share, with a total value of $36,550.00. Following the purchase, the chief executive officer directly owned 5,000 shares in the company, valued at $36,550. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott Humphrey bought 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $7.01 per share, for a total transaction of $42,060.00. Following the completion of the acquisition, the chief financial officer directly owned 6,000 shares in the company, valued at approximately $42,060. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 11.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SRI. BlackRock Inc. purchased a new position in Stoneridge during the 2nd quarter worth approximately $18,734,000. AYAL Capital Advisors Ltd grew its stake in shares of Stoneridge by 2.1% in the 4th quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company's stock valued at $6,305,000 after buying an additional 22,330 shares in the last quarter. Man Group plc bought a new stake in Stoneridge in the second quarter worth approximately $2,049,000. Assenagon Asset Management S.A. boosted its holdings in Stoneridge by 12.6% in the first quarter. Assenagon Asset Management S.A. now owns 289,125 shares of the auto parts company's stock worth $1,396,000 after purchasing an additional 32,334 shares in the last quarter. Finally, Globeflex Capital L P acquired a new position in shares of Stoneridge during the 2nd quarter valued at about $1,196,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Stoneridge Company Profile

Stoneridge, Inc is an automotive technology company that develops and manufactures electronic systems and components for vehicle manufacturers and commercial vehicle customers. Its products are designed to support vehicle control, connectivity, safety, efficiency and driver information applications.

The company's product portfolio includes electronic instrument clusters and displays, vehicle control modules, switches and controls, telematics and connectivity solutions, cameras and sensing technologies, and systems used in commercial vehicle applications.

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