Standard Motor Products Inc. (SMP) Stock Rating Reaffirmed by Jefferies Group
Standard Motor Products Inc. (NYSE:SMP)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group in a note issued to investors on Wednesday. They presently have a $56.00 target price on the stock. Jefferies Group’s price objective would suggest a potential upside of 17.80% from the stock’s previous close.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. FBR & Co increased their price objective on Standard Motor Products from $38.00 to $40.00 and gave the company a “mkt perform” rating in a research report on Thursday, August 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $47.50.
Shares of Standard Motor Products (NYSE:SMP) opened at 47.54 on Wednesday. The firm’s 50-day moving average price is $46.45 and its 200-day moving average price is $40.77. Standard Motor Products has a 52-week low of $29.69 and a 52-week high of $48.37. The stock has a market cap of $1.08 billion, a P/E ratio of 19.91 and a beta of 1.77.
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Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. The firm earned $289 million during the quarter, compared to analyst estimates of $277.37 million. Standard Motor Products had a return on equity of 14.75% and a net margin of 5.50%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. On average, equities research analysts forecast that Standard Motor Products will post $2.83 earnings per share for the current fiscal year.
In related news, insider Peter J. Sills sold 2,395 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $45.40, for a total value of $108,733.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur S. Sills sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $42.80, for a total transaction of $428,000.00. Following the completion of the sale, the director now directly owns 361,010 shares of the company’s stock, valued at approximately $15,451,228. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of SMP. Ifrah Financial Services Inc. raised its stake in shares of Standard Motor Products by 0.3% in the second quarter. Ifrah Financial Services Inc. now owns 5,898 shares of the company’s stock worth $235,000 after buying an additional 15 shares in the last quarter. Krilogy Financial LLC raised its stake in Standard Motor Products by 0.5% in the second quarter. Krilogy Financial LLC now owns 4,180 shares of the company’s stock worth $166,000 after buying an additional 19 shares in the last quarter. Suntrust Banks Inc. raised its stake in Standard Motor Products by 1.1% in the second quarter. Suntrust Banks Inc. now owns 6,243 shares of the company’s stock worth $248,000 after buying an additional 70 shares in the last quarter. Capstone Asset Management Co. raised its stake in Standard Motor Products by 1.9% in the second quarter. Capstone Asset Management Co. now owns 5,950 shares of the company’s stock worth $237,000 after buying an additional 110 shares in the last quarter. Finally, Monarch Partners Asset Management LLC raised its stake in Standard Motor Products by 2.7% in the second quarter. Monarch Partners Asset Management LLC now owns 6,581 shares of the company’s stock worth $262,000 after buying an additional 170 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.
About Standard Motor Products
Standard Motor Products, Inc is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment.
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