Stoneridge (NYSE:SRI) Shares Pass Above 200-Day Moving Average - Time to Sell?

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) shares crossed 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.

Wall Street Analysts Forecast Growth

SRI has been the topic of several research reports. Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Stoneridge in a research note on Wednesday. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Stoneridge has a consensus rating of "Buy" and an average target price of $16.00.

Stoneridge Stock Up 1.2%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 2.14. The company has a market cap of $227.58 million, a price-to-earnings ratio of -7.52 and a beta of 1.44. The business has a 50-day simple moving average of $7.38 and a 200-day simple moving average of $5.61.

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 analysts' consensus estimates 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 company had revenue of $227.95 million during the quarter, compared to analyst estimates of $219.90 million. On average, equities analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of Stoneridge in the second quarter valued at approximately $180,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 acquiring an additional 9,149 shares during the last quarter. Man Group plc raised its holdings in shares of 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 acquiring an additional 152,547 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Stoneridge by 64.2% in the second 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 shares of Stoneridge by 113.3% in the second 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. 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.