Standard Motor Products (NYSE:SMP – Get Free Report) issued its earnings results on Tuesday. The auto parts company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.01, Zacks reports. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.51%.The company had revenue of $526.72 million for the quarter, compared to analyst estimates of $511.68 million. During the same period in the prior year, the firm posted $1.13 EPS.
Standard Motor Products Stock Up 4.4%
NYSE:SMP traded up $1.70 during trading hours on Tuesday, reaching $40.48. The company’s stock had a trading volume of 118,096 shares, compared to its average volume of 130,389. The company has a market cap of $901.18 million, a price-to-earnings ratio of 19.80 and a beta of 0.81. Standard Motor Products has a one year low of $31.58 and a one year high of $46.00. The business’s 50-day moving average is $38.80 and its 200-day moving average is $38.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.23 and a quick ratio of 0.78.
Analyst Ratings Changes
SMP has been the subject of several research reports. Zacks Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.00.
Insiders Place Their Bets
In other Standard Motor Products news, VP Ray Nicholas sold 5,822 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $39.75, for a total transaction of $231,424.50. Following the transaction, the vice president directly owned 35,327 shares in the company, valued at $1,404,248.25. This trade represents a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in SMP. Tower Research Capital LLC TRC boosted its position in Standard Motor Products by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 1,613 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Standard Motor Products in the third quarter worth $99,000. Quantbot Technologies LP acquired a new stake in shares of Standard Motor Products in the third quarter worth $108,000. Zacks Investment Management bought a new stake in shares of Standard Motor Products during the 3rd quarter worth $202,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Standard Motor Products during the 2nd quarter worth $205,000. 81.26% of the stock is owned by institutional investors.
About Standard Motor Products
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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