Standard Motor Products, Inc. (NYSE:SMP) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also recently issued reports on SMP. Jefferies Group LLC restated a “buy” rating and issued a $56.00 target price on shares of Standard Motor Products in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Friday, May 5th. Finally, BidaskClub upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Standard Motor Products has an average rating of “Hold” and a consensus target price of $55.67.

Standard Motor Products (NYSE SMP) opened at 44.01 on Thursday. Standard Motor Products has a 52 week low of $43.29 and a 52 week high of $55.37. The stock’s 50 day moving average price is $48.46 and its 200-day moving average price is $49.20. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 16.40 and a beta of 1.81.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $312.73 million during the quarter. During the same quarter in the prior year, the company earned $0.88 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Standard Motor Products will post $2.87 earnings per share for the current fiscal year.

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In other news, Director Frederick D. Sturdivant sold 2,000 shares of Standard Motor Products stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $50.75, for a total transaction of $101,500.00. Following the transaction, the director now owns 28,850 shares in the company, valued at approximately $1,464,137.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter J. Sills sold 1,344 shares of Standard Motor Products stock in a transaction on Friday, June 9th. The stock was sold at an average price of $50.29, for a total transaction of $67,589.76. Following the transaction, the director now owns 360,713 shares in the company, valued at approximately $18,140,256.77. The disclosure for this sale can be found here. Insiders have sold a total of 69,410 shares of company stock worth $3,267,088 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in SMP. Suntrust Banks Inc. increased its stake in shares of 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 valued at $289,000 after buying an additional 56 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of 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 valued at $109,000 after buying an additional 60 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of 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 valued at $332,000 after buying an additional 60 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Standard Motor Products by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 16,970 shares of the auto parts company’s stock valued at $886,000 after buying an additional 80 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Standard Motor Products by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the auto parts company’s stock valued at $403,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 78.43% 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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