Standard Motor Products Inc. (SMP) Stock Rating Reaffirmed by Jefferies Group
Standard Motor Products Inc. (NYSE:SMP)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a research note issued to investors on Wednesday. They presently have a $56.00 price objective on the stock. Jefferies Group’s price target would suggest a potential upside of 17.80% from the company’s previous close.
Several other research analysts also recently weighed in on SMP. Zacks Investment Research downgraded Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. FBR & Co upped their target price on Standard Motor Products from $38.00 to $40.00 and gave the stock a “mkt perform” rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $47.50.
Shares of Standard Motor Products (NYSE:SMP) opened at 47.54 on Wednesday. The company has a market capitalization of $1.08 billion, a P/E ratio of 19.91 and a beta of 1.77. Standard Motor Products has a 12 month low of $29.69 and a 12 month high of $48.37. The company has a 50-day moving average price of $46.45 and a 200-day moving average price of $40.77.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.15. Standard Motor Products had a return on equity of 14.75% and a net margin of 5.50%. The company earned $289 million during the quarter, compared to the consensus estimate of $277.37 million. During the same period in the previous year, the company posted $0.59 earnings per share. Standard Motor Products’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts forecast that Standard Motor Products will post $2.83 EPS for the current fiscal year.
In other news, SVP Carmine Joseph Broccole sold 650 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $47.52, for a total value of $30,888.00. Following the completion of the sale, the senior vice president now directly owns 44,973 shares of the company’s stock, valued at approximately $2,137,116.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 value 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 $15,451,228. The disclosure for this sale can be found here. 6.50% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. acquired a new stake in Standard Motor Products during the third quarter valued at approximately $9,024,000. Creative Planning boosted its stake in Standard Motor Products by 15.2% in the third quarter. Creative Planning now owns 2,550 shares of the company’s stock valued at $122,000 after buying an additional 337 shares in the last quarter. Park National Corp OH acquired a new stake in Standard Motor Products during the third quarter valued at approximately $213,000. Macquarie Group Ltd. boosted its stake in Standard Motor Products by 3.2% in the second quarter. Macquarie Group Ltd. now owns 821,480 shares of the company’s stock valued at $32,678,000 after buying an additional 25,310 shares in the last quarter. Finally, Mason Street Advisors LLC acquired a new stake in Standard Motor Products during the second quarter valued at approximately $154,000. 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.
Receive News & Stock Ratings for Standard Motor Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products Inc. and related stocks with our FREE daily email newsletter.