Standard Motor Products, Inc. (SMP) Receives Average Rating of “Hold” from Analysts
Standard Motor Products, Inc. (NYSE:SMP) has received a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $54.00.
A number of analysts have issued reports on SMP shares. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Standard Motor Products in a research note on Tuesday, September 12th. Zacks Investment Research raised Standard Motor Products from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. B. Riley reissued a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. Finally, FBR & Co reissued a “hold” rating and set a $48.00 price objective on shares of Standard Motor Products in a research report on Friday, October 27th.
Shares of Standard Motor Products (NYSE:SMP) opened at $45.02 on Thursday. Standard Motor Products has a 52 week low of $40.56 and a 52 week high of $54.73. The stock has a market capitalization of $1,017.59, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.80 and a beta of 1.80.
Standard Motor Products (NYSE:SMP) last issued its earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.12). Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. The company had revenue of $281.06 million during the quarter. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. research analysts predict that Standard Motor Products will post 2.67 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 14th. Standard Motor Products’s payout ratio is 32.20%.
Standard Motor Products announced that its Board of Directors has initiated a share repurchase program on Monday, November 20th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, VP Thomas Tesoro sold 775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $44.18, for a total transaction of $34,239.50. Following the completion of the transaction, the vice president now directly owns 31,456 shares in the company, valued at approximately $1,389,726.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ray Nicholas sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $48.35, for a total value of $48,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,595 shares of company stock valued at $1,041,475 over the last three months. Corporate insiders own 6.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. boosted its holdings in Standard Motor Products by 1.1% during the 2nd quarter. Suntrust Banks Inc. now owns 5,949 shares of the auto parts company’s stock valued at $310,000 after acquiring an additional 64 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Standard Motor Products by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,970 shares of the auto parts company’s stock valued at $886,000 after buying an additional 80 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Standard Motor Products by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 38,285 shares of the auto parts company’s stock valued at $1,999,000 after buying an additional 397 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Standard Motor Products by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock valued at $253,000 after buying an additional 729 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Standard Motor Products by 8.6% in the 2nd quarter. Voya Investment Management LLC now owns 11,155 shares of the auto parts company’s stock valued at $583,000 after buying an additional 884 shares during the period. Institutional investors own 79.16% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://theolympiareport.com/2017/12/28/standard-motor-products-inc-smp-receives-average-rating-of-hold-from-analysts.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products and related companies with MarketBeat.com's FREE daily email newsletter.