Standard Motor Products (NYSE:SMP) Rating Lowered to Hold at StockNews.com

Standard Motor Products (NYSE:SMPGet Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

A number of other equities research analysts have also recently weighed in on the stock. TheStreet cut shares of Standard Motor Products from a “b-” rating to a “c+” rating in a research note on Thursday, September 8th. MKM Partners initiated coverage on shares of Standard Motor Products in a research note on Friday, June 10th. They set a “buy” rating and a $62.00 price objective on the stock.

Standard Motor Products Stock Performance

SMP stock opened at $32.60 on Monday. Standard Motor Products has a 1 year low of $31.61 and a 1 year high of $55.09. The stock’s fifty day moving average is $38.87 and its two-hundred day moving average is $41.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.71 and a current ratio of 2.05. The stock has a market capitalization of $711.66 million, a price-to-earnings ratio of 8.98 and a beta of 0.40.

Standard Motor Products (NYSE:SMPGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The auto parts company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28). Standard Motor Products had a net margin of 5.97% and a return on equity of 14.93%. The company had revenue of $359.40 million for the quarter, compared to the consensus estimate of $356.59 million. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Standard Motor Products’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts predict that Standard Motor Products will post 3.5 EPS for the current year.

Insiders Place Their Bets

In other Standard Motor Products news, EVP Dale Burks sold 2,060 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $32.08, for a total value of $66,084.80. Following the sale, the executive vice president now directly owns 51,749 shares in the company, valued at $1,660,107.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Ray Nicholas sold 1,288 shares of Standard Motor Products stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $31.98, for a total value of $41,190.24. Following the transaction, the vice president now owns 46,107 shares of the company’s stock, valued at approximately $1,474,501.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dale Burks sold 2,060 shares of Standard Motor Products stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $32.08, for a total value of $66,084.80. Following the completion of the transaction, the executive vice president now directly owns 51,749 shares in the company, valued at approximately $1,660,107.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,192 shares of company stock worth $908,524. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Standard Motor Products

Institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd increased its stake in Standard Motor Products by 532.5% in the 4th quarter. Point72 Hong Kong Ltd now owns 974 shares of the auto parts company’s stock worth $51,000 after purchasing an additional 820 shares in the last quarter. Captrust Financial Advisors grew its stake in Standard Motor Products by 47.4% during the 1st quarter. Captrust Financial Advisors now owns 2,217 shares of the auto parts company’s stock valued at $96,000 after acquiring an additional 713 shares in the last quarter. Quantbot Technologies LP purchased a new position in Standard Motor Products during the 2nd quarter valued at about $125,000. SG Americas Securities LLC purchased a new position in Standard Motor Products during the 1st quarter valued at about $122,000. Finally, Mutual of America Capital Management LLC grew its stake in Standard Motor Products by 15.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 3,190 shares of the auto parts company’s stock valued at $144,000 after acquiring an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 77.93% of the company’s stock.

Standard Motor Products Company Profile

(Get Rating)

Standard Motor Products, Inc manufactures and distributes replacement parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry with a complementary focus on specialized original equipment parts for manufacturers across agriculture, heavy duty, and construction equipment industries.

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