Standard Motor Products (NYSE:SMP) Stock Rating Reaffirmed as Buy by Roth Capital

Standard Motor Products (NYSE:SMP)‘s stock had its “buy” rating reiterated by analysts at Roth Capital in a research note issued to investors on Monday, Benzinga reports. They presently have a $54.00 price target on the auto parts company’s stock. Roth Capital’s price target points to a potential upside of 48.16% from the stock’s current price.

A number of other research analysts have also recently commented on SMP. Weiss Ratings raised Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.00.

Standard Motor Products Stock Down 0.6%

Standard Motor Products stock traded down $0.22 during midday trading on Monday, reaching $36.45. The stock had a trading volume of 181,043 shares, compared to its average volume of 140,208. The company has a market capitalization of $814.20 million, a P/E ratio of 16.27 and a beta of 0.85. The company has a fifty day moving average price of $38.30 and a two-hundred day moving average price of $38.17. The company has a current ratio of 2.00, a quick ratio of 0.80 and a debt-to-equity ratio of 0.73. Standard Motor Products has a 12 month low of $34.27 and a 12 month high of $46.00.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.39 by $0.01. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%. The firm had revenue of $526.72 million during the quarter, compared to the consensus estimate of $511.68 million. During the same period in the prior year, the business posted $1.13 earnings per share. As a group, equities analysts expect that Standard Motor Products will post 4.23 EPS for the current fiscal year.

Insider Activity at Standard Motor Products

In related news, EVP Dale Burks sold 5,798 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $39.00, for a total value of $226,122.00. Following the transaction, the executive vice president directly owned 47,657 shares of the company’s stock, valued at approximately $1,858,623. This represents a 10.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 18,349 shares of company stock valued at $712,146 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Standard Motor Products

A number of institutional investors and hedge funds have recently made changes to their positions in SMP. Empowered Funds LLC purchased a new stake in shares of Standard Motor Products in the 2nd quarter worth $5,492,000. Legal & General Group Plc purchased a new position in shares of Standard Motor Products in the 2nd quarter worth $2,129,000. Assenagon Asset Management S.A. increased its position in shares of Standard Motor Products by 727.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 98,751 shares of the auto parts company’s stock valued at $3,431,000 after purchasing an additional 86,823 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Standard Motor Products during the 2nd quarter valued at about $10,882,000. Finally, Bank of America Corp DE purchased a new stake in Standard Motor Products in the second quarter worth $4,140,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Company Profile

Standard Motor Products, Inc (NYSE:SMP) manufactures and distributes replacement parts for the automotive aftermarket. The company supplies components used to maintain and repair passenger vehicles, light trucks, and other vehicles, serving professional repair shops, parts distributors, and do-it-yourself customers.

Its product portfolio includes engine-management components such as ignition, fuel, emissions, and sensor products, as well as temperature-control parts, including air-conditioning and cooling-system components.