Standard Motor Products, Inc. (SMP) Receives “Buy” Rating from Jefferies Group LLC

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.

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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.

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