Standard Motor Products (NYSE:SMP) Raised to “Buy” at Wall Street Zen
by Renee Jackson · The Cerbat GemStandard Motor Products (NYSE:SMP – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.
SMP has been the subject of a number of other reports. Zacks Research cut Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.00.
Check Out Our Latest Report on Standard Motor Products
Standard Motor Products Trading Down 0.7%
SMP opened at $38.66 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.80 and a current ratio of 2.00. Standard Motor Products has a one year low of $34.27 and a one year high of $46.00. The company has a market cap of $863.66 million, a P/E ratio of 17.26 and a beta of 0.82. The business’s 50-day simple moving average is $38.88 and its 200-day simple moving average is $38.85.
Standard Motor Products (NYSE:SMP – Get Free Report) last posted its earnings results on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.01. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%.The firm had revenue of $526.72 million during the quarter, compared to analysts’ expectations of $511.68 million. During the same quarter in the previous year, the business earned $1.13 earnings per share. As a group, equities research analysts expect that Standard Motor Products will post 4.23 EPS for the current fiscal year.
Insider Activity at Standard Motor Products
In related news, VP Ray Nicholas sold 5,822 shares of Standard Motor Products stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $39.75, for a total value of $231,424.50. Following the sale, the vice president directly owned 35,327 shares in the company, valued at $1,404,248.25. The trade was a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Standard Motor Products in the second quarter valued at $158,258,000. Dimensional Fund Advisors LP grew its stake in shares of Standard Motor Products by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,386,382 shares of the auto parts company’s stock worth $51,089,000 after purchasing an additional 4,927 shares during the period. Royce & Associates LP grew its stake in shares of Standard Motor Products by 3.4% during the 4th quarter. Royce & Associates LP now owns 1,101,199 shares of the auto parts company’s stock worth $40,579,000 after purchasing an additional 36,688 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Standard Motor Products by 1.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 996,928 shares of the auto parts company’s stock valued at $34,633,000 after purchasing an additional 16,664 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Standard Motor Products by 0.6% in the 4th quarter. State Street Corp now owns 826,471 shares of the auto parts company’s stock valued at $30,455,000 after purchasing an additional 5,319 shares in the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.
About Standard Motor Products
Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.
The company operates through two primary segments: Engine Management and Temperature Control.