Wall Street Zen Downgrades Standard Motor Products (NYSE:SMP) to Hold

Standard Motor Products (NYSE:SMP) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also weighed in on SMP. Zacks Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Standard Motor Products Price Performance

Shares of SMP stock opened at $40.84 on Friday. The company has a market capitalization of $912.30 million, a PE ratio of 18.23 and a beta of 0.82. The firm has a fifty day simple moving average of $38.86 and a 200-day simple moving average of $38.86. The company has a current ratio of 2.00, a quick ratio of 0.80 and a debt-to-equity ratio of 0.73. Standard Motor Products has a twelve month low of $34.27 and a twelve month high of $46.00.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. Standard Motor Products had a net margin of 2.78% and a return on equity of 13.28%. The firm had revenue of $526.72 million for the quarter, compared to analyst estimates of $511.68 million. During the same quarter in the previous year, the business posted $1.13 EPS. Equities research analysts anticipate that Standard Motor Products will post 4.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Standard Motor Products

In related news, VP Ray Nicholas sold 5,822 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $39.75, for a total value of $231,424.50. Following the sale, the vice president owned 35,327 shares of the company’s stock, valued at $1,404,248.25. This trade represents a 14.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Standard Motor Products

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Standard Motor Products in the 2nd quarter valued at approximately $158,258,000. Deutsche Bank AG acquired a new position in shares of Standard Motor Products during the second quarter valued at $884,000. Rice Hall James & Associates LLC bought a new stake in shares of Standard Motor Products during the second quarter valued at about $2,113,000. Bank of New York Mellon Corp acquired a new stake in Standard Motor Products in the second quarter worth about $10,882,000. Finally, GSA Capital Partners LLP bought a new position in Standard Motor Products in the 2nd quarter valued at about $499,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Company Profile

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.