StockNews.com Upgrades Standard Motor Products (NYSE:SMP) to Strong-Buy

Standard Motor Products (NYSE:SMP) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Standard Motor Products Price Performance

Shares of NYSE:SMP opened at $31.02 on Friday. Standard Motor Products has a one year low of $26.09 and a one year high of $41.71. The stock has a market cap of $673.77 million, a PE ratio of 19.15 and a beta of 0.52. The business’s fifty day moving average price is $31.81 and its two-hundred day moving average price is $31.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $399.27 million during the quarter, compared to analysts’ expectations of $396.10 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 EPS. On average, analysts forecast that Standard Motor Products will post 3.08 EPS for the current fiscal year.

Insider Activity

In related news, VP Ray Nicholas sold 4,730 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $34.11, for a total transaction of $161,340.30. Following the transaction, the vice president now directly owns 46,385 shares in the company, valued at approximately $1,582,192.35. This represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dale Burks sold 1,722 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.96, for a total value of $60,201.12. Following the completion of the sale, the executive vice president now directly owns 67,865 shares in the company, valued at approximately $2,372,560.40. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,184 shares of company stock valued at $387,041 over the last 90 days. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Standard Motor Products

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Standard Motor Products by 153.8% during the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock valued at $30,000 after buying an additional 549 shares during the period. Versant Capital Management Inc boosted its holdings in Standard Motor Products by 147.2% in the fourth quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 614 shares during the last quarter. FMR LLC grew its position in Standard Motor Products by 64.6% during the third quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 685 shares during the period. Farther Finance Advisors LLC acquired a new stake in Standard Motor Products during the third quarter worth about $73,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Standard Motor Products in the 3rd quarter worth about $83,000. Institutional investors and hedge funds own 81.26% of the company’s stock.

About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.