$229.00 Million in Sales Expected for Standard Motor Products, Inc. (SMP) This Quarter

Brokerages forecast that Standard Motor Products, Inc. (NYSE:SMP) will post sales of $229.00 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Standard Motor Products’ earnings, with the lowest sales estimate coming in at $227.50 million and the highest estimate coming in at $230.50 million. Standard Motor Products reported sales of $229.80 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.3%. The firm is scheduled to report its next earnings results on Thursday, February 15th.

According to Zacks, analysts expect that Standard Motor Products will report full year sales of $229.00 million for the current financial year, with estimates ranging from $1.10 billion to $1.11 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.14 billion per share, with estimates ranging from $1.12 billion to $1.15 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Standard Motor Products.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Thursday, October 26th. The auto parts company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.12). The firm had revenue of $281.06 million for the quarter. Standard Motor Products had a net margin of 4.97% and a return on equity of 13.68%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS.

A number of research analysts have recently commented on SMP shares. Jefferies Group reiterated a “buy” rating and set a $60.00 target price on shares of Standard Motor Products in a research report on Tuesday, September 12th. Zacks Investment Research upgraded Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. B. Riley reiterated a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. Finally, FBR & Co reiterated a “hold” rating and set a $48.00 target price on shares of Standard Motor Products in a research report on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $54.00.

In related news, insider Peter J. Sills sold 2,775 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $42.46, for a total value of $117,826.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter J. Sills sold 2,500 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $47.14, for a total value of $117,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,884 shares of company stock valued at $620,472 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SMP. Piedmont Investment Advisors LLC bought a new stake in Standard Motor Products in the second quarter worth $227,000. Victory Capital Management Inc. lifted its position in Standard Motor Products by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock worth $253,000 after buying an additional 729 shares during the last quarter. Nordea Investment Management AB bought a new stake in Standard Motor Products in the second quarter worth $256,000. AXA bought a new stake in Standard Motor Products in the second quarter worth $287,000. Finally, SG Americas Securities LLC bought a new stake in Standard Motor Products in the third quarter worth $309,000. Institutional investors own 79.16% of the company’s stock.

Standard Motor Products (NYSE:SMP) opened at $45.97 on Monday. The company has a market capitalization of $1,039.75, a P/E ratio of 19.48, a PEG ratio of 2.34 and a beta of 1.81. Standard Motor Products has a 52-week low of $40.56 and a 52-week high of $54.73.

Standard Motor Products declared that its board has approved a share repurchase plan on Monday, November 20th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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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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