Standard Motor Products' (SMP) "Buy" Rating Reiterated at Roth Capital

Key Points

• Roth Capital reiterated its “Buy” rating on Standard Motor Products and maintained a $54 price target, implying approximately 48% upside from the stock’s $36.40 trading price.
• Standard Motor Products exceeded quarterly expectations, reporting EPS of $1.40 versus the $1.39 consensus and revenue of $526.72 million, above estimates of $511.68 million.
• The stock has a “Moderate Buy” consensus rating, while institutional ownership stands at 81.26%; shares declined 0.7% in Monday trading and remain near the lower end of their 52-week range.

Standard Motor Products (NYSE:SMP - Get Free Report)'s stock had its "buy" rating restated by research analysts at Roth Capital in a note issued to investors on Monday, Benzinga reports. They currently have a $54.00 target price on the auto parts company's stock. Roth Capital's target price points to a potential upside of 48.36% from the stock's current price.

Other analysts also recently issued research reports about the stock. Weiss Ratings upgraded Standard Motor Products from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Wall Street Zen raised Standard Motor Products from a "hold" rating to a "buy" rating in a research report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Standard Motor Products presently has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Standard Motor Products Trading Down 0.7%

Shares of NYSE SMP traded down $0.27 during trading on Monday, reaching $36.40. The stock had a trading volume of 87,808 shares, compared to its average volume of 139,722. The business's 50-day moving average price is $38.30 and its 200-day moving average price is $38.17. Standard Motor Products has a fifty-two week low of $34.27 and a fifty-two week high of $46.00. The company has a market cap of $813.15 million, a P/E ratio of 16.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.80 and a current ratio of 2.00.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.01. The company 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 in the previous year, the firm earned $1.13 earnings per share. On average, equities research analysts predict that Standard Motor Products will post 4.23 EPS for the current fiscal year.

Insider Activity at Standard Motor Products

In other Standard Motor Products news, EVP Dale Burks sold 5,798 shares of the company's stock in a transaction 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 sale, the executive vice president owned 47,657 shares of the company's stock, valued at approximately $1,858,623. This represents a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 18,349 shares of company stock valued at $712,146 in the last ninety days. 5.50% of the stock is owned by company insiders.

Institutional Trading of Standard Motor Products

Several large investors have recently modified their holdings of SMP. BlackRock Inc. acquired a new stake in Standard Motor Products in the 2nd quarter worth about $158,258,000. Bank of New York Mellon Corp acquired a new position in shares of Standard Motor Products during the 2nd quarter valued at about $10,882,000. SG Americas Securities LLC lifted its holdings in shares of Standard Motor Products by 207.8% during the 1st quarter. SG Americas Securities LLC now owns 259,180 shares of the auto parts company's stock worth $9,004,000 after acquiring an additional 174,986 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Standard Motor Products during the 2nd quarter worth about $5,869,000. Finally, Empowered Funds LLC acquired a new stake in shares of Standard Motor Products in the second quarter worth approximately $5,492,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

About Standard Motor Products

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.