Stoneridge (NYSE:SRI) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Stoneridge, Inc. (NYSE:SRI) shares 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

A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a report on Monday. Zacks Research raised Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $16.00.

Stoneridge Price Performance

The company has a current ratio of 1.89, a quick ratio of 1.27 and a debt-to-equity ratio of 1.01. The stock has a market cap of $195.13 million, a PE ratio of -1.61 and a beta of 1.88. The company’s 50 day moving average is $7.19 and its 200-day moving average is $6.87.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts predict that Stoneridge, Inc. will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Scott Humphrey purchased 6,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were bought at an average price of $7.01 per share, for a total transaction of $42,060.00. Following the completion of the purchase, the chief financial officer owned 6,000 shares of the company’s stock, valued at $42,060. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Natalia Noblet bought 5,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $7.31 per share, for a total transaction of $36,550.00. Following the purchase, the chief executive officer directly owned 5,000 shares in the company, valued at $36,550. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Stoneridge by 45.6% during the first quarter. Sei Investments Co. now owns 31,090 shares of the auto parts company’s stock valued at $150,000 after purchasing an additional 9,732 shares during the last quarter. Algert Global LLC increased its stake in Stoneridge by 54.2% in the 2nd quarter. Algert Global LLC now owns 39,899 shares of the auto parts company’s stock worth $292,000 after purchasing an additional 14,019 shares in the last quarter. Villere ST Denis J & Co. LLC increased its stake in Stoneridge by 100.0% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 30,000 shares of the auto parts company’s stock worth $145,000 after purchasing an additional 15,000 shares in the last quarter. WealthTrust Axiom LLC acquired a new stake in Stoneridge during the 4th quarter worth about $88,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Stoneridge during the second quarter valued at about $120,000. 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.