Standard Motor Products (NYSE:SMP – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at Roth Capital in a report issued on Monday, Benzinga reports. They currently have a $54.00 target price on the auto parts company’s stock. Roth Capital‘s price target would indicate a potential upside of 19.23% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Standard Motor Products in a research report on Monday, October 26th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Standard Motor Products has a consensus rating of “Moderate Buy” and an average price target of $54.00.
Read Our Latest Stock Report on SMP
Standard Motor Products Price Performance
Shares of SMP stock traded up $2.88 during mid-day trading on Monday, hitting $45.29. 91,245 shares of the stock were exchanged, compared to its average volume of 139,061. The firm has a fifty day moving average of $37.72 and a 200 day moving average of $38.59. The company has a quick ratio of 0.73, a current ratio of 1.81 and a debt-to-equity ratio of 0.56. Standard Motor Products has a 52-week low of $34.27 and a 52-week high of $46.00. The company has a market cap of $1.01 billion, a PE ratio of 14.88 and a beta of 0.80.
Standard Motor Products (NYSE:SMP – Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The auto parts company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. The firm had revenue of $512.90 million during the quarter, compared to analyst estimates of $514.99 million. Standard Motor Products had a return on equity of 13.65% and a net margin of 3.77%. Research analysts anticipate that Standard Motor Products will post 4.23 earnings per share for the current year.
Insider Transactions at Standard Motor Products
In other Standard Motor Products news, EVP Dale Burks sold 9,051 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $38.71, for a total transaction of $350,364.21. Following the completion of the sale, the executive vice president directly owned 56,955 shares of the company’s stock, valued at approximately $2,204,728.05. This trade represents a 13.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 18,349 shares of company stock valued at $712,146. Insiders own 5.50% of the company’s stock.
Hedge Funds Weigh In On Standard Motor Products
Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Standard Motor Products during the 2nd quarter worth $158,258,000. Bank of New York Mellon Corp purchased a new position in shares of Standard Motor Products during the second quarter valued at approximately $10,882,000. Allianz Asset Management GmbH acquired a new position in Standard Motor Products in the second quarter valued at $5,869,000. Empowered Funds LLC acquired a new stake in shares of Standard Motor Products in the second quarter worth approximately $5,492,000. Finally, Manatuck Hill Partners LLC purchased a new stake in Standard Motor Products in the second quarter valued at approximately $4,482,000. 81.26% of the stock is owned by hedge funds and other institutional investors.
About Standard Motor Products
Standard Motor Products, Inc (NYSE:SMP) manufactures and distributes replacement parts for the automotive aftermarket. The company supplies components used to maintain and repair passenger vehicles, light trucks, and other transportation equipment, serving automotive parts distributors, retailers, repair shops, and vehicle service professionals.
Its product offerings include engine management components such as sensors, ignition parts, fuel system components, and emissions-related products.
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