Stoneridge (NYSE:SRI) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Stoneridge, Inc. (NYSE:SRI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 analysts have recently issued reports on SRI shares. Wall Street Zen lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Zacks Research upgraded shares of Stoneridge to a “hold” rating in a report on Wednesday, March 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a research note on Friday, March 27th. Finally, Barrington Research cut Stoneridge from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Stoneridge currently has a consensus rating of “Reduce” and an average target price of $16.00.

Stoneridge Stock Performance

The company has a debt-to-equity ratio of 1.01, a current ratio of 2.30 and a quick ratio of 1.45. The stock has a market capitalization of $203.41 million, a price-to-earnings ratio of -1.63 and a beta of 1.85. The stock has a 50-day moving average of $6.24 and a 200 day moving average of $6.46.

Stoneridge (NYSE:SRI) last issued its earnings results on Thursday, May 7th. The auto parts company reported ($0.75) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.76). Stoneridge had a negative net margin of 15.24% and a negative return on equity of 20.68%. The firm had revenue of $160.85 million during the quarter, compared to the consensus estimate of $139.00 million. On average, analysts expect that Stoneridge, Inc. will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Stoneridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRI. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 in the last quarter. AQR Capital Management LLC boosted its stake in Stoneridge by 213.7% in the 1st quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after purchasing an additional 363,407 shares during the period. Assenagon Asset Management S.A. increased its position in 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 acquiring an additional 198,423 shares during the period. Russell Investments Group Ltd. raised its position in shares of Stoneridge by 50.0% in the fourth quarter. Russell Investments Group Ltd. now owns 575,670 shares of the auto parts company’s stock valued at $3,333,000 after buying an additional 191,953 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Stoneridge by 186.7% in the 2nd quarter. Marshall Wace LLP now owns 293,987 shares of the auto parts company’s stock valued at $2,070,000 after acquiring an additional 191,444 shares in the last quarter. 98.07% of the stock is owned by 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.