Standard Motor Products (NYSE:SMP) Share Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• Standard Motor Products shares rose above their 50-day moving average, reaching $37.99 and last trading near $37.84, compared with a 50-day average of $37.64.
• Analyst sentiment is favorable: the stock carries a consensus “Moderate Buy” rating and a $54 average price target, implying potential upside from its recent trading level.
• The company reported quarterly revenue and earnings slightly above estimates and pays a quarterly dividend of $0.33 per share, representing a 3.5% annualized yield.

Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $37.64 and traded as high as $37.99. Standard Motor Products shares last traded at $37.8350, with a volume of 134,251 shares traded.

Analysts Set New Price Targets

SMP has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Standard Motor Products in a report on Monday. Wall Street Zen upgraded Standard Motor Products from a "hold" rating to a "buy" rating in a research note on Sunday, August 16th. Finally, Roth Capital restated a "buy" rating and issued a $54.00 price objective on shares of Standard Motor Products in a report on Monday, October 12th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Standard Motor Products Price Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.80 and a current ratio of 2.00. The stock has a 50-day simple moving average of $37.64 and a 200 day simple moving average of $38.57. The company has a market cap of $845.23 million, a P/E ratio of 16.89 and a beta of 0.85.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share for the quarter, beating 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 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 company posted $1.13 EPS. On average, equities analysts expect that Standard Motor Products, Inc. will post 4.23 EPS for the current year.

Standard Motor Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.5%. Standard Motor Products's dividend payout ratio (DPR) is 58.93%.

Insider Activity

In related news, EVP Dale Burks sold 5,798 shares of Standard Motor Products stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $39.00, for a total transaction of $226,122.00. Following the completion of the transaction, the executive vice president directly owned 47,657 shares of the company's stock, valued at $1,858,623. This trade represents a 10.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 18,349 shares of company stock worth $712,146. Company insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SMP. BOKF NA acquired a new stake in Standard Motor Products in the 3rd quarter valued at about $356,000. Probity Advisors Inc. raised its stake in shares of Standard Motor Products by 4.6% in the third quarter. Probity Advisors Inc. now owns 17,340 shares of the auto parts company's stock worth $643,000 after acquiring an additional 768 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Standard Motor Products by 24.6% in the third quarter. Nisa Investment Advisors LLC now owns 2,195 shares of the auto parts company's stock worth $81,000 after acquiring an additional 433 shares during the last quarter. SummerHaven Investment Management LLC acquired a new position in shares of Standard Motor Products during the third quarter worth approximately $1,067,000. Finally, TD Waterhouse Canada Inc. acquired a new position in shares of Standard Motor Products during the third quarter worth approximately $2,589,000. 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 transportation equipment, serving automotive parts distributors, retailers, repair shops, and vehicle service professionals.

Its product offerings include engine management components such as sensors, ignition parts, fuel system components, and emissions-related products.

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