Stoneridge (NYSE:SRI) Shares Pass Above Two Hundred Day Moving Average After Analyst Downgrade

Stoneridge, Inc. (NYSE:SRI)’s share price passed above its two hundred day moving average during trading on Thursday after Zacks Research upgraded the stock to a hold rating. The stock has a two hundred day moving average of $6.49 and traded as high as $7.93. Stoneridge shares last traded at $7.8190, with a volume of 129,213 shares trading hands.

Other equities analysts also recently issued reports about the company. Wall Street Zen upgraded Stoneridge from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a research note on Monday, December 29th. Finally, Barrington Research downgraded Stoneridge from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Stoneridge has a consensus rating of “Sell” and an average target price of $16.00.

Hedge Funds Weigh In On Stoneridge

Several hedge funds and other institutional investors have recently made changes to their positions in the business. 22NW LP boosted its position in shares of Stoneridge by 4.1% during the fourth quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock worth $12,696,000 after buying an additional 87,164 shares during the period. Vanguard Group Inc. lifted its position in Stoneridge by 3.5% in the third quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock worth $11,540,000 after purchasing an additional 51,263 shares during the period. Federated Hermes Inc. lifted its position in Stoneridge by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock worth $6,430,000 after purchasing an additional 47,135 shares during the period. AYAL Capital Advisors Ltd lifted its position in Stoneridge by 2.1% in the fourth quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock worth $6,305,000 after purchasing an additional 22,330 shares during the period. Finally, Millennium Management LLC lifted its position in Stoneridge by 3.0% in the first quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock worth $4,382,000 after purchasing an additional 28,037 shares during the period. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Stoneridge Price Performance

The stock has a market capitalization of $210.30 million, a price-to-earnings ratio of -1.69 and a beta of 1.85. The company has a quick ratio of 1.37, a current ratio of 2.02 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $6.34 and a two-hundred day simple moving average of $6.50.

Stoneridge (NYSE:SRI) last released 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 firm had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%. As a group, research analysts predict that Stoneridge, Inc. will post -0.74 earnings per share for the current fiscal year.

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.