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

Key Points

• Stoneridge, Inc. shares have crossed above their 200-day moving average, currently trading at $8.14, significantly higher than the average of $6.19.
• Barrington Research has issued an "outperform" rating for Stoneridge shares, setting a price target of $16.00, with most analysts rating the stock as a "Buy."
• The company reported a loss of $0.25 earnings per share for the latest quarter, missing estimates but surpassing revenue expectations of $227.95 million.

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 $6.19 and traded as high as $8.48. Stoneridge shares last traded at $8.14, with a volume of 181,630 shares.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an "outperform" rating and issued a $16.00 price objective on shares of Stoneridge in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $16.00.

Stoneridge Trading Down 1.5%

The company has a market cap of $228.02 million, a price-to-earnings ratio of -7.54 and a beta of 1.50. 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 firm's 50-day moving average price is $8.00 and its 200 day moving average price is $6.19.

Stoneridge (NYSE:SRI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. The business had revenue of $227.95 million during the quarter, compared to analyst estimates of $219.90 million. As a group, equities analysts expect that Stoneridge, Inc. will post -0.42 EPS for the current year.

Institutional Trading of Stoneridge

Several hedge funds have recently bought and sold shares of the business. State of Wyoming acquired a new stake in Stoneridge in the 2nd quarter valued at $180,000. Tower Research Capital LLC TRC grew its position in Stoneridge by 211.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,485 shares of the auto parts company's stock valued at $95,000 after purchasing an additional 9,149 shares during the period. Man Group plc grew its position in Stoneridge by 170.1% in the 2nd quarter. Man Group plc now owns 242,253 shares of the auto parts company's stock valued at $1,705,000 after purchasing an additional 152,547 shares during the period. BNP Paribas Financial Markets grew its position in Stoneridge by 64.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 102,359 shares of the auto parts company's stock valued at $721,000 after purchasing an additional 40,013 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in Stoneridge by 113.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 32,000 shares of the auto parts company's stock valued at $225,000 after purchasing an additional 17,000 shares during the period. Institutional investors and hedge funds own 98.07% of the company's stock.

About Stoneridge

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.

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