Standard Motor Products, Inc. (NYSE:SMP)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a report released on Wednesday. They presently have a $60.00 price target on the auto parts company’s stock. Jefferies Group LLC’s price target points to a potential upside of 31.26% from the company’s current price.

Several other research firms also recently commented on SMP. BidaskClub upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th.

Shares of Standard Motor Products (NYSE:SMP) traded down 0.76% during mid-day trading on Wednesday, reaching $45.71. 71,110 shares of the company’s stock were exchanged. Standard Motor Products has a one year low of $42.11 and a one year high of $55.37. The stock has a 50-day moving average of $51.17 and a 200 day moving average of $49.78. The firm has a market capitalization of $1.04 billion, a P/E ratio of 17.04 and a beta of 1.81.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.99 by $0.18. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The business had revenue of $312.73 million during the quarter. During the same period last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast that Standard Motor Products will post $2.87 EPS for the current fiscal year.

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In related news, insider Lawrence I. Sills sold 7,000 shares of Standard Motor Products stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $50.77, for a total value of $355,390.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas Tesoro sold 3,950 shares of Standard Motor Products stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $47.91, for a total value of $189,244.50. Following the completion of the sale, the vice president now owns 29,026 shares of the company’s stock, valued at $1,390,635.66. The disclosure for this sale can be found here. Insiders sold a total of 32,950 shares of company stock valued at $1,655,699 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Ifrah Financial Services Inc. increased its stake in Standard Motor Products by 0.3% in the second quarter. Ifrah Financial Services Inc. now owns 5,898 shares of the auto parts company’s stock worth $235,000 after buying an additional 15 shares in the last quarter. Park National Corp OH increased its stake in Standard Motor Products by 0.4% in the first quarter. Park National Corp OH now owns 4,474 shares of the auto parts company’s stock worth $220,000 after buying an additional 16 shares in the last quarter. Suntrust Banks Inc. increased its stake in Standard Motor Products by 1.0% in the first quarter. Suntrust Banks Inc. now owns 5,885 shares of the auto parts company’s stock worth $289,000 after buying an additional 56 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Standard Motor Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,220 shares of the auto parts company’s stock worth $109,000 after buying an additional 60 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in Standard Motor Products by 1.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,350 shares of the auto parts company’s stock worth $332,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.

Standard Motor Products Company Profile

Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.

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