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

Standard Motor Products, Inc. (NYSE:SMP) has earned an average rating of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $55.00.

Separately, Zacks Investment Research cut Standard Motor Products from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th.

In related news, Director John P. Gethin sold 5,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $49.50, for a total transaction of $247,500.00. Following the completion of the sale, the director now owns 20,850 shares in the company, valued at $1,032,075. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. purchased a new stake in Standard Motor Products in the fourth quarter worth about $239,000. SG Americas Securities LLC purchased a new stake in Standard Motor Products in the third quarter worth about $309,000. Teacher Retirement System of Texas purchased a new stake in Standard Motor Products in the fourth quarter worth about $320,000. Dynamic Technology Lab Private Ltd purchased a new stake in Standard Motor Products in the third quarter worth about $358,000. Finally, Symons Capital Management Inc. purchased a new stake in shares of Standard Motor Products during the fourth quarter worth about $362,000. Institutional investors and hedge funds own 80.53% of the company’s stock.

Shares of Standard Motor Products (SMP) opened at $48.40 on Tuesday. The company has a market capitalization of $1,090.00, a price-to-earnings ratio of 18.33, a P/E/G ratio of 2.40 and a beta of 1.76. Standard Motor Products has a 1 year low of $40.56 and a 1 year high of $54.73.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Tuesday, February 20th. The auto parts company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $239.98 million during the quarter. Standard Motor Products had a return on equity of 14.15% and a net margin of 3.40%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. analysts expect that Standard Motor Products will post 3.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, February 14th. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.19. Standard Motor Products’s dividend payout ratio is 31.82%.

Standard Motor Products announced 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 reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication 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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