Standard Motor Products (NYSE:SMP) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b” rating in a research report issued to clients and investors on Monday, TheStreetRatingsTable reports.

SMP has been the topic of several other research reports. CL King upgraded shares of Standard Motor Products from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, June 26th. Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $53.00 target price on the stock in a research report on Tuesday, August 4th.

NYSE SMP opened at $48.00 on Monday. Standard Motor Products has a 1 year low of $33.94 and a 1 year high of $55.85. The stock has a market capitalization of $1.07 billion, a PE ratio of 23.88 and a beta of 0.73. The company’s 50 day simple moving average is $46.17 and its two-hundred day simple moving average is $41.92.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Wednesday, July 29th. The auto parts company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.30. Standard Motor Products had a net margin of 4.36% and a return on equity of 11.63%. The business had revenue of $247.90 million for the quarter, compared to analysts’ expectations of $220.56 million. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was down 18.8% compared to the same quarter last year. On average, analysts forecast that Standard Motor Products will post 2.61 EPS for the current fiscal year.

In other Standard Motor Products news, Director Peter J. Sills sold 6,586 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $40.76, for a total value of $268,445.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter J. Sills sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $46.75, for a total transaction of $233,750.00. Following the completion of the sale, the director now directly owns 345,713 shares in the company, valued at approximately $16,162,082.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,344 shares of company stock worth $1,847,602. 6.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System grew its holdings in Standard Motor Products by 4.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 8,514 shares of the auto parts company’s stock worth $351,000 after acquiring an additional 342 shares during the last quarter. American International Group Inc. boosted its stake in Standard Motor Products by 2.9% during the 2nd quarter. American International Group Inc. now owns 14,820 shares of the auto parts company’s stock worth $611,000 after purchasing an additional 416 shares during the last quarter. California State Teachers Retirement System boosted its stake in Standard Motor Products by 1.7% during the 2nd quarter. California State Teachers Retirement System now owns 32,333 shares of the auto parts company’s stock worth $1,332,000 after purchasing an additional 526 shares during the last quarter. Swiss National Bank boosted its stake in Standard Motor Products by 1.8% during the 1st quarter. Swiss National Bank now owns 39,200 shares of the auto parts company’s stock worth $1,630,000 after purchasing an additional 700 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in Standard Motor Products by 4.8% during the 1st quarter. Ensign Peak Advisors Inc now owns 17,435 shares of the auto parts company’s stock worth $725,000 after purchasing an additional 800 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.

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