Standard Motor Products, Inc. (SMP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Standard Motor Products, Inc. (NYSE:SMP) have been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $54.00.

A number of brokerages have issued reports on SMP. B. Riley reiterated a “neutral” rating on shares of Standard Motor Products in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Standard Motor Products from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, FBR & Co reiterated a “hold” rating and set a $48.00 price objective on shares of Standard Motor Products in a research note on Friday, October 27th.

In other news, insider Peter J. Sills sold 2,775 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $42.46, for a total value of $117,826.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Thomas Tesoro sold 775 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $44.18, for a total transaction of $34,239.50. Following the completion of the sale, the vice president now owns 31,456 shares in the company, valued at $1,389,726.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,869 shares of company stock worth $384,820. 6.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Standard Motor Products by 6.6% in the 3rd quarter. Rhumbline Advisers now owns 54,613 shares of the auto parts company’s stock valued at $2,635,000 after purchasing an additional 3,395 shares in the last quarter. Copeland Capital Management LLC boosted its stake in shares of Standard Motor Products by 1.5% in the 3rd quarter. Copeland Capital Management LLC now owns 298,795 shares of the auto parts company’s stock valued at $14,417,000 after purchasing an additional 4,511 shares in the last quarter. State Street Corp boosted its stake in shares of Standard Motor Products by 2.7% in the 2nd quarter. State Street Corp now owns 497,020 shares of the auto parts company’s stock valued at $25,954,000 after purchasing an additional 13,034 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Standard Motor Products by 46.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 9,330 shares of the auto parts company’s stock valued at $450,000 after purchasing an additional 2,980 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Standard Motor Products in the 3rd quarter valued at approximately $443,000. Institutional investors own 79.13% of the company’s stock.

Shares of Standard Motor Products (SMP) opened at $46.25 on Monday. The stock has a market cap of $1,046.08, a PE ratio of 19.60, a price-to-earnings-growth ratio of 2.36 and a beta of 1.81. Standard Motor Products has a one year low of $40.56 and a one year high of $54.73.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.74 earnings per share (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 return on equity of 13.68% and a net margin of 4.97%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. equities research analysts expect that Standard Motor Products will post 2.67 EPS for the current fiscal year.

Standard Motor Products announced that its board has authorized a share repurchase plan on Monday, November 20th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: This article was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2018/01/22/standard-motor-products-inc-smp-given-consensus-recommendation-of-hold-by-brokerages.html.

About Standard Motor Products

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.

Receive News & Ratings for Standard Motor Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply