Stoneridge (NYSE:SRI) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Stoneridge, Inc. (NYSE:SRI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.50 and traded as high as $7.01. Stoneridge shares last traded at $7.00, with a volume of 173,842 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SRI. Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research report on Wednesday, August 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Stoneridge in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.00.

Stoneridge Price Performance

The company has a market cap of $196.04 million, a P/E ratio of -6.48 and a beta of 1.47. 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 firm’s fifty day moving average is $7.80 and its two-hundred day moving average is $6.50.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Stoneridge by 78.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,937 shares of the auto parts company’s stock valued at $408,000 after purchasing an additional 39,028 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Stoneridge during the 2nd quarter valued at about $92,000. Acadian Asset Management LLC boosted its holdings in shares of Stoneridge by 35.5% during the 1st quarter. Acadian Asset Management LLC now owns 593,617 shares of the auto parts company’s stock valued at $2,720,000 after purchasing an additional 155,673 shares during the last quarter. 22NW LP boosted its holdings in shares of Stoneridge by 374.8% during the 1st quarter. 22NW LP now owns 1,627,653 shares of the auto parts company’s stock valued at $7,471,000 after purchasing an additional 1,284,866 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Stoneridge by 366.2% during the 1st quarter. GSA Capital Partners LLP now owns 273,563 shares of the auto parts company’s stock valued at $1,256,000 after purchasing an additional 214,888 shares during the last quarter. Institutional investors own 98.07% of the company’s stock.

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.