Standard Motor Products (NYSE:SMP) Stock Keeps Buy Rating at Roth Capital

Standard Motor Products (NYSE:SMP)‘s stock had its “buy” rating reiterated by stock analysts at Roth Capital in a research note issued on Monday, Benzinga reports. They presently have a $54.00 target price on the auto parts company’s stock. Roth Capital’s target price would indicate a potential upside of 48.87% from the company’s current price.

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

Standard Motor Products Stock Performance

SMP traded down $0.40 on Monday, hitting $36.27. 104,624 shares of the company traded hands, compared to its average volume of 139,792. The company has a 50 day moving average of $38.30 and a 200-day moving average of $38.17. Standard Motor Products has a 12-month low of $34.27 and a 12-month high of $46.00. The stock has a market capitalization of $810.36 million, a PE ratio of 16.15 and a beta of 0.85. The company has a quick ratio of 0.80, a current ratio of 2.00 and a debt-to-equity ratio of 0.73.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.01. The firm had revenue of $526.72 million during the quarter, compared to the consensus estimate of $511.68 million. Standard Motor Products had a net margin of 2.78% and a return on equity of 13.28%. During the same quarter last year, the firm earned $1.13 earnings per share. Sell-side analysts anticipate that Standard Motor Products will post 4.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Dale Burks sold 9,051 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $38.71, for a total value of $350,364.21. Following the completion of the sale, the executive vice president owned 56,955 shares of the company’s stock, valued at $2,204,728.05. This represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 18,349 shares of company stock valued at $712,146 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Standard Motor Products

Several hedge funds have recently modified their holdings of SMP. Avidian Wealth Enterprises LLC purchased a new stake in Standard Motor Products during the 3rd quarter worth approximately $448,000. Tompkins Financial Corp acquired a new position in shares of Standard Motor Products in the 3rd quarter valued at approximately $37,000. Versant Capital Management Inc boosted its stake in shares of Standard Motor Products by 89.1% during the 3rd quarter. Versant Capital Management Inc now owns 1,159 shares of the auto parts company’s stock valued at $43,000 after buying an additional 546 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Standard Motor Products during the 2nd quarter valued at approximately $686,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Standard Motor Products during the 2nd quarter valued at approximately $635,000. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

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.