Standard Motor Products, Inc. (NYSE:SMP)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group LLC in a research note issued to investors on Wednesday. They currently have a $60.00 price target on the auto parts company’s stock. Jefferies Group LLC’s price objective points to a potential upside of 31.26% from the company’s previous close.

A number of other research firms have also weighed in on SMP. BidaskClub upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th.

Standard Motor Products (SMP) traded down 0.76% on Wednesday, hitting $45.71. The stock had a trading volume of 71,110 shares. Standard Motor Products has a 52-week low of $42.11 and a 52-week high of $55.37. The company has a market cap of $1.04 billion, a P/E ratio of 17.04 and a beta of 1.81. The stock’s 50-day moving average is $51.17 and its 200-day moving average is $49.78.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.18. The firm had revenue of $312.73 million for the quarter. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. Analysts expect that Standard Motor Products will post $2.87 earnings per share for the current year.

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In related news, insider Lawrence I. Sills sold 7,000 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $50.77, for a total value of $355,390.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas Tesoro sold 3,950 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $47.91, for a total transaction of $189,244.50. Following the completion of the transaction, the vice president now directly owns 29,026 shares of the company’s stock, valued at $1,390,635.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,950 shares of company stock valued at $1,655,699. 6.60% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC increased its position in Standard Motor Products by 12.2% in the second quarter. Pacific Ridge Capital Partners LLC now owns 26,740 shares of the auto parts company’s stock worth $1,396,000 after buying an additional 2,910 shares during the last quarter. Eagle Asset Management Inc. increased its position in Standard Motor Products by 1.4% in the second quarter. Eagle Asset Management Inc. now owns 210,212 shares of the auto parts company’s stock worth $10,977,000 after buying an additional 2,985 shares during the last quarter. Royce & Associates LP increased its position in Standard Motor Products by 3.5% in the second quarter. Royce & Associates LP now owns 2,141,830 shares of the auto parts company’s stock worth $111,846,000 after buying an additional 72,600 shares during the last quarter. Victory Capital Management Inc. increased its position in Standard Motor Products by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock worth $253,000 after buying an additional 729 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Standard Motor Products by 31.9% in the second quarter. BNP Paribas Arbitrage SA now owns 7,039 shares of the auto parts company’s stock worth $368,000 after buying an additional 1,702 shares during the last quarter. 77.83% of the stock is owned by institutional investors.

Standard Motor Products Company Profile

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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