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

Key Points

• Stoneridge shares crossed above their 200-day moving average during Wednesday’s session, trading as high as $7.44 and last changing hands at $7.43. The move came on volume of 144,127 shares.
• Analysts remain cautious on the stock: Stoneridge has a consensus “Sell” rating, with recent downgrades from Zacks Research and a reiterated sell rating from Weiss Ratings. The average price target cited is $16.00.
• The company’s latest earnings report was weak, with EPS of -$0.75 versus expectations for a profit, though revenue beat estimates at $160.85 million. Two directors also bought shares recently, while insiders own 11% of the stock.

Stoneridge, Inc. (NYSE:SRI - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.89 and traded as high as $7.44. Stoneridge shares last traded at $7.43, with a volume of 144,127 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on SRI. Zacks Research lowered Stoneridge from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 27th. Weiss Ratings reiterated 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. Based on data from MarketBeat.com, Stoneridge presently has a consensus rating of "Sell" and an average price target of $16.00.

Stoneridge Stock Up 0.8%

The business has a fifty day moving average of $7.25 and a 200 day moving average of $6.89. The stock has a market cap of $209.82 million, a price-to-earnings ratio of -1.68 and a beta of 1.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.02 and a quick ratio of 1.37.

Stoneridge (NYSE:SRI - Get Free Report) last posted 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 business 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%. On average, equities analysts predict that Stoneridge, Inc. will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In other Stoneridge news, Director Ira C. Kaplan acquired 5,000 shares of Stoneridge stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average price of $7.54 per share, with a total value of $37,700.00. Following the purchase, the director owned 100,046 shares in the company, valued at approximately $754,346.84. This trade represents a 5.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Lasky acquired 5,000 shares of Stoneridge stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of $7.46 per share, with a total value of $37,300.00. Following the purchase, the director owned 192,666 shares in the company, valued at $1,437,288.36. The trade was a 2.66% increase in their position. The disclosure for this purchase is available in the SEC filing. 11.00% of the stock is currently owned by company insiders.

Institutional Trading of Stoneridge

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of Stoneridge during the 1st quarter worth about $39,000. Quadrature Capital Ltd bought a new position in shares of Stoneridge in the 4th quarter valued at approximately $61,000. NewEdge Advisors LLC bought a new position in shares of Stoneridge in the 4th quarter valued at approximately $62,000. WINTON GROUP Ltd acquired a new stake in Stoneridge in the 4th quarter worth approximately $69,000. Finally, Jain Global LLC acquired a new stake in Stoneridge in the 4th quarter worth approximately $77,000. Institutional investors and hedge funds 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.

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