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

Stoneridge, Inc. (NYSE:SRI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.46 and traded as high as $7.31. Stoneridge shares last traded at $7.2030, with a volume of 138,185 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barrington Research lowered Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Zacks Research raised Stoneridge to a “hold” rating in a research note on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research note on Friday, March 27th. Finally, Wall Street Zen lowered Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Stoneridge currently has a consensus rating of “Reduce” and a consensus price target of $16.00.

Stoneridge Stock Down 7.5%

The company has a current ratio of 2.30, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $189.01 million, a P/E ratio of -1.52 and a beta of 1.85. The business has a 50-day moving average price of $6.22 and a 200 day moving average price of $6.46.

Stoneridge (NYSE:SRI) last posted 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). The business had revenue of $160.85 million during the quarter, compared to analysts’ expectations of $139.00 million. Stoneridge had a negative net margin of 15.24% and a negative return on equity of 20.68%. On average, equities analysts expect that Stoneridge, Inc. will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

A number of hedge funds have recently bought and sold shares of the business. 22NW LP raised its stake in Stoneridge by 4.1% during the fourth quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock valued at $12,696,000 after purchasing an additional 87,164 shares in the last quarter. Vanguard Group Inc. raised its stake in Stoneridge by 3.5% during the third quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock valued at $11,540,000 after purchasing an additional 51,263 shares in the last quarter. Federated Hermes Inc. raised its position in Stoneridge by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock valued at $6,430,000 after purchasing an additional 47,135 shares during the period. AYAL Capital Advisors Ltd raised its position in Stoneridge by 2.1% during the fourth quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock valued at $6,305,000 after purchasing an additional 22,330 shares during the period. Finally, Millennium Management LLC raised its position in Stoneridge by 3.0% during the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after purchasing an additional 28,037 shares during the period. Hedge funds and other institutional investors 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.