Standard Motor Products (NYSE:SMP – Get Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.
Several other equities research analysts have also recently issued reports on the company. Weiss Ratings upgraded Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Wall Street Zen cut Standard Motor Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Standard Motor Products currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.
View Our Latest Report on Standard Motor Products
Standard Motor Products Trading Down 0.0%
Standard Motor Products (NYSE:SMP – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The business had revenue of $451.17 million during the quarter, compared to analysts’ expectations of $429.07 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.51%. On average, research analysts predict that Standard Motor Products will post 4.4 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Standard Motor Products
Several institutional investors and hedge funds have recently added to or reduced their stakes in SMP. Congruence Capital LLC bought a new stake in Standard Motor Products during the fourth quarter worth $6,571,000. SG Americas Securities LLC lifted its stake in shares of Standard Motor Products by 207.8% in the 1st quarter. SG Americas Securities LLC now owns 259,180 shares of the auto parts company’s stock valued at $9,004,000 after acquiring an additional 174,986 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Standard Motor Products by 368.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 221,147 shares of the auto parts company’s stock valued at $6,794,000 after acquiring an additional 173,912 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Standard Motor Products by 83.4% in the 4th quarter. Invesco Ltd. now owns 296,792 shares of the auto parts company’s stock valued at $10,937,000 after acquiring an additional 134,936 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new position in shares of Standard Motor Products in the 3rd quarter valued at $5,102,000. 81.26% of the stock is currently owned by institutional investors.
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.
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