Stoneridge (NYSE:SRI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Stoneridge, Inc. (NYSE:SRI) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.91 and traded as high as $7.98. Stoneridge shares last traded at $7.60, with a volume of 345,826 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SRI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a research note on Monday, December 29th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Stoneridge currently has an average rating of “Hold” and an average price target of $16.00.

Stoneridge Trading Up 15.5%

The company has a quick ratio of 1.33, a current ratio of 2.13 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $212.95 million, a PE ratio of -6.55 and a beta of 1.51. The business’s 50-day moving average is $6.00 and its two-hundred day moving average is $6.91.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, November 5th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter. Stoneridge had a negative return on equity of 8.78% and a negative net margin of 3.66%.The firm had revenue of $210.27 million for the quarter, compared to analysts’ expectations of $203.14 million. On average, analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stoneridge

A number of institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its stake in Stoneridge by 285.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock worth $3,948,000 after purchasing an additional 383,805 shares during the period. AQR Capital Management LLC raised its holdings in shares of Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after buying an additional 363,407 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Stoneridge by 50.4% in the second quarter. Federated Hermes Inc. now owns 1,062,490 shares of the auto parts company’s stock valued at $7,480,000 after buying an additional 356,143 shares during the last quarter. 22NW LP boosted its stake in shares of Stoneridge by 19.4% during the second quarter. 22NW LP now owns 1,943,508 shares of the auto parts company’s stock worth $13,682,000 after buying an additional 315,855 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Stoneridge by 340.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock worth $1,487,000 after buying an additional 198,423 shares during the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

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.