Standard Motor Products (SMP) Receives Average Rating of “Hold” from Brokerages

Standard Motor Products (NYSE:SMP) has been assigned an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $55.00.

Several analysts have recently commented on SMP shares. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, February 22nd. ValuEngine downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th.

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Shares of SMP opened at $48.36 on Friday. The stock has a market capitalization of $1,103.77, a PE ratio of 17.09, a PEG ratio of 2.43 and a beta of 1.68. Standard Motor Products has a one year low of $40.56 and a one year high of $54.73.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Tuesday, February 20th. The auto parts company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. analysts anticipate that Standard Motor Products will post 3.35 earnings per share for the current year.

In other news, Director John P. Gethin sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $49.50, for a total value of $247,500.00. Following the completion of the sale, the director now directly owns 20,850 shares in the company, valued at approximately $1,032,075. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC acquired a new position in Standard Motor Products during the 4th quarter valued at about $433,000. Gotham Asset Management LLC boosted its stake in Standard Motor Products by 12.4% during the 4th quarter. Gotham Asset Management LLC now owns 24,075 shares of the auto parts company’s stock valued at $1,081,000 after purchasing an additional 2,665 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Standard Motor Products by 6.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 165,817 shares of the auto parts company’s stock valued at $7,447,000 after purchasing an additional 10,582 shares during the last quarter. Raymond James & Associates acquired a new position in Standard Motor Products during the 4th quarter valued at about $725,000. Finally, Goldman Sachs Group Inc. boosted its stake in Standard Motor Products by 0.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 355,605 shares of the auto parts company’s stock valued at $15,970,000 after purchasing an additional 2,722 shares during the last quarter. Institutional investors and hedge funds own 80.53% of the company’s stock.

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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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