Standard Motor Products Now Covered by FBR Capital Markets (SMP)
FBR Capital Markets assumed coverage on shares of Standard Motor Products (NYSE:SMP) in a research note issued on Friday, Analyst Ratings Network.com reports. The firm set a “market perform” rating and a $38.00 price target on the stock. FBR Capital Markets’ target price would suggest a potential upside of 6.77% from the stock’s previous close.
A number of other firms have also recently commented on SMP. Analysts at Zacks reiterated a “neutral” rating on shares of Standard Motor Products in a research note to investors on Friday, November 29th. They now have a $36.00 price target on the stock. Separately, analysts at Bank of America Corp. downgraded shares of Standard Motor Products to a “neutral” rating in a research note to investors on Friday, November 1st. Finally, analysts at S&P Equity Research downgraded shares of Standard Motor Products to a “hold” rating in a research note to investors on Thursday, October 31st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Standard Motor Products has a consensus rating of “Hold” and a consensus price target of $36.00.
Shares of Standard Motor Products (NYSE:SMP) opened at 35.59 on Friday. Standard Motor Products has a 52 week low of $21.35 and a 52 week high of $39.99. The stock’s 50-day moving average is $35.14 and its 200-day moving average is $33.73. The company has a market cap of $822.3 million and a P/E ratio of 16.93.
Standard Motor Products (NYSE:SMP) last released its earnings data on Tuesday, October 29th. The company reported $0.76 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.76. The company had revenue of $264.20 million for the quarter, compared to the consensus estimate of $278.07 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that Standard Motor Products will post $2.24 EPS for the current fiscal year.
Standard Motor Products, Inc (NYSE:SMP) is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry, with a focus on the original equipment service market.
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