Standard Motor Products, Inc. (NYSE:SMP)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group LLC in a report released on Tuesday, September 12th. They presently have a $60.00 target price on the auto parts company’s stock. Jefferies Group LLC’s price target points to a potential upside of 28.18% from the company’s previous close.
SMP has been the subject of a number of other research reports. Zacks Investment Research cut Standard Motor Products from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. BidaskClub cut Standard Motor Products from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, ValuEngine cut Standard Motor Products from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $55.67.
Standard Motor Products (NYSE SMP) opened at 46.81 on Tuesday. The stock’s 50 day moving average price is $45.28 and its 200-day moving average price is $48.73. Standard Motor Products has a one year low of $43.29 and a one year high of $55.37. The company has a market capitalization of $1.07 billion, a P/E ratio of 17.45 and a beta of 1.79.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share 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 business had revenue of $312.73 million for the quarter. During the same quarter last year, the business posted $0.88 EPS. Standard Motor Products’s revenue was up 8.2% compared to the same quarter last year. Equities analysts forecast that Standard Motor Products will post $2.87 EPS for the current year.
TRADEMARK VIOLATION NOTICE: “Standard Motor Products, Inc. (SMP) Receives “Buy” Rating from Jefferies Group LLC” was originally published by BBNS and is owned by of BBNS. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://baseballnewssource.com/markets/standard-motor-products-inc-smp-rating-reiterated-by-jefferies-group-llc/1639374.html.
In other Standard Motor Products news, Chairman Lawrence I. Sills sold 5,002 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $44.10, for a total transaction of $220,588.20. Following the transaction, the chairman now directly owns 704,696 shares in the company, valued at $31,077,093.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lawrence I. Sills sold 25,417 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $44.23, for a total value of $1,124,193.91. Following the transaction, the insider now owns 673,127 shares in the company, valued at $29,772,407.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,217 shares of company stock valued at $3,969,586. 6.60% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in SMP. Teachers Advisors LLC lifted its stake in Standard Motor Products by 4.5% during the fourth quarter. Teachers Advisors LLC now owns 36,176 shares of the auto parts company’s stock worth $1,925,000 after purchasing an additional 1,566 shares in the last quarter. Louisiana State Employees Retirement System raised 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 acquiring an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised 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 acquiring an additional 60 shares in the last quarter. Strs Ohio acquired a new stake in shares of Standard Motor Products in the first quarter valued at $633,000. Finally, Wells Fargo & Company MN raised its stake in shares of Standard Motor Products by 12.9% in the first quarter. Wells Fargo & Company MN now owns 37,888 shares of the auto parts company’s stock valued at $1,862,000 after acquiring an additional 4,316 shares in the last quarter. Institutional investors own 78.40% of the company’s stock.
About Standard Motor Products
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.
Receive News & Ratings for Standard Motor Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products Inc. and related companies with our FREE daily email newsletter.