Stoneridge (NYSE:SRI) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Stoneridge, Inc. (NYSE:SRI)’s stock price crossed 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SRI shares. Zacks Research raised Stoneridge from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Stoneridge currently has a consensus rating of “Reduce” and an average target price of $16.00.

Stoneridge Price Performance

The company has a 50 day moving average of $7.25 and a 200 day moving average of $6.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.02. The stock has a market capitalization of $208.69 million, a price-to-earnings ratio of -1.68 and a beta of 1.85.

Stoneridge (NYSE:SRI) last posted its quarterly 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). Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%. The company had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. As a group, equities research analysts anticipate that Stoneridge, Inc. will post -0.74 EPS for the current year.

Insider Activity at Stoneridge

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

Institutional Investors Weigh In On Stoneridge

Several institutional investors have recently modified their holdings of SRI. 22NW LP grew its stake in shares of Stoneridge by 4.1% during the fourth quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock worth $12,696,000 after purchasing an additional 87,164 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Stoneridge by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock worth $11,540,000 after buying an additional 51,263 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Stoneridge by 4.4% during the 4th quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock worth $6,430,000 after buying an additional 47,135 shares during the last quarter. AYAL Capital Advisors Ltd boosted its position in shares of Stoneridge by 2.1% during the 4th quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock worth $6,305,000 after acquiring an additional 22,330 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Stoneridge by 3.0% in the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after acquiring an additional 28,037 shares during the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

About Stoneridge

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.