Stoneridge, Inc. (NYSE:SRI – Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.78 and traded as high as $7.23. Stoneridge shares last traded at $7.1440, with a volume of 193,904 shares trading hands.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Wall Street Zen cut Stoneridge from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Zacks Research downgraded shares of Stoneridge from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. Finally, Barrington Research lowered shares of Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell” and an average target price of $16.00.
Check Out Our Latest Report on Stoneridge
Stoneridge Stock Up 2.9%
Stoneridge (NYSE:SRI – Get Free Report) last issued its earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share 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 firm had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. Sell-side analysts anticipate that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.
Insider Buying and Selling at Stoneridge
In related news, Director William M. Lasky purchased 5,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $7.46 per share, for a total transaction of $37,300.00. Following the acquisition, the director directly owned 192,666 shares in the company, valued at $1,437,288.36. The trade was a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira C. Kaplan bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of $7.54 per share, with a total value of $37,700.00. Following the completion of the purchase, the director directly owned 100,046 shares of the company’s stock, valued at approximately $754,346.84. This trade represents a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 11.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of SRI. Ameriprise Financial Inc. boosted its stake in Stoneridge by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 93,729 shares of the auto parts company’s stock valued at $714,000 after acquiring an additional 1,815 shares during the last quarter. Jane Street Group LLC grew its position in shares of Stoneridge by 1.9% during the fourth quarter. Jane Street Group LLC now owns 115,259 shares of the auto parts company’s stock worth $667,000 after acquiring an additional 2,178 shares during the last quarter. State Street Corp increased its holdings in shares of Stoneridge by 2.6% in the 4th quarter. State Street Corp now owns 134,334 shares of the auto parts company’s stock worth $778,000 after acquiring an additional 3,400 shares during the period. Algert Global LLC lifted its position in Stoneridge by 19.8% in the 3rd quarter. Algert Global LLC now owns 25,880 shares of the auto parts company’s stock valued at $197,000 after purchasing an additional 4,270 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Stoneridge by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 317,846 shares of the auto parts company’s stock valued at $1,841,000 after purchasing an additional 4,545 shares during the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s stock.
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.
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