Standard Motor Products (SMP) Lifted to Buy at ValuEngine

Standard Motor Products (NYSE:SMP) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

SMP has been the subject of several other reports. Zacks Investment Research raised Standard Motor Products from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. CL King lowered Standard Motor Products from a “buy” rating to a “neutral” rating in a research note on Monday, July 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.50.

Shares of Standard Motor Products stock opened at $50.52 on Friday. The company has a market cap of $987.06 million, a P/E ratio of 17.85, a PEG ratio of 2.11 and a beta of 1.66. Standard Motor Products has a 12 month low of $40.56 and a 12 month high of $52.31.



Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Friday, October 26th. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. The business had revenue of $296.60 million during the quarter, compared to analyst estimates of $291.32 million. Standard Motor Products had a return on equity of 12.38% and a net margin of 2.66%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. On average, equities analysts anticipate that Standard Motor Products will post 2.61 EPS for the current year.

In related news, Director Frederick D. Sturdivant sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $50.00, for a total transaction of $200,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Carmine Joseph Broccole sold 825 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $44.07, for a total value of $36,357.75. Following the sale, the senior vice president now directly owns 55,231 shares of the company’s stock, valued at $2,434,030.17. The disclosure for this sale can be found here. Insiders sold a total of 10,496 shares of company stock valued at $497,545 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Standard Motor Products by 6.0% during the 2nd quarter. BlackRock Inc. now owns 2,818,096 shares of the auto parts company’s stock worth $136,226,000 after acquiring an additional 158,939 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Standard Motor Products by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,628,305 shares of the auto parts company’s stock worth $78,714,000 after acquiring an additional 19,364 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Standard Motor Products by 3.7% during the 2nd quarter. Schroder Investment Management Group now owns 356,989 shares of the auto parts company’s stock worth $5,890,000 after acquiring an additional 12,831 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Standard Motor Products by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 330,741 shares of the auto parts company’s stock worth $15,987,000 after acquiring an additional 9,276 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Standard Motor Products by 4.1% during the 2nd quarter. Boston Partners now owns 302,804 shares of the auto parts company’s stock worth $14,638,000 after acquiring an additional 11,903 shares during the last quarter. 82.85% of the stock is owned by hedge funds and other institutional investors.

About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.

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