Stoneridge (NYSE:SRI) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Stoneridge's share price recently crossed above its 200-day moving average, trading at $7.89, a significant increase from its 200-day average of $5.53.
• Wall Street analysts are optimistic, with upgrades to a "buy" rating and a price target of $16.00 from Barrington Research.
• The company reported a loss of ($0.25) EPS for the quarter, missing estimates, but exceeded revenue expectations with $227.95 million in revenue.

Stoneridge, Inc. (NYSE:SRI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.53 and traded as high as $8.13. Stoneridge shares last traded at $7.89, with a volume of 212,341 shares traded.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barrington Research restated an "outperform" rating and set a $16.00 price objective on shares of Stoneridge in a research note on Monday, August 4th. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Stoneridge currently has a consensus rating of "Buy" and a consensus price target of $16.00.

Stoneridge Stock Performance

The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $7.30 and a 200 day simple moving average of $5.57. The company has a market capitalization of $224.36 million, a price-to-earnings ratio of -7.42 and a beta of 1.44.

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

Institutional Investors Weigh In On Stoneridge

A number of institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Stoneridge in the second quarter worth approximately $180,000. Tower Research Capital LLC TRC lifted its position in Stoneridge by 211.0% in the second quarter. Tower Research Capital LLC TRC now owns 13,485 shares of the auto parts company's stock worth $95,000 after purchasing an additional 9,149 shares during the period. Man Group plc lifted its position in Stoneridge by 170.1% in the second quarter. Man Group plc now owns 242,253 shares of the auto parts company's stock worth $1,705,000 after purchasing an additional 152,547 shares during the period. BNP Paribas Financial Markets lifted its position in Stoneridge by 64.2% in the second quarter. BNP Paribas Financial Markets now owns 102,359 shares of the auto parts company's stock worth $721,000 after purchasing an additional 40,013 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in Stoneridge by 113.3% in the second quarter. Bridgeway Capital Management LLC now owns 32,000 shares of the auto parts company's stock worth $225,000 after purchasing an additional 17,000 shares during the period. 98.07% of the stock is currently owned by institutional investors and hedge funds.

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.