Standard Motor Products (NYSE:SMP) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Standard Motor Products has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence from analysts.
• The company reported $0.81 earnings per share, significantly surpassing the consensus estimate of $0.44, along with a 24.7% year-over-year revenue growth.
• Institutional investors own 81.26% of Standard Motor Products' stock, with notable increases in stakes from major firms like Vanguard and Gamco Investors.

Standard Motor Products (NYSE:SMP - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Standard Motor Products Stock Performance

SMP traded down $0.36 on Friday, hitting $32.06. 105,872 shares of the stock traded hands, compared to its average volume of 135,387. Standard Motor Products has a 52 week low of $21.38 and a 52 week high of $35.92. The company has a current ratio of 2.32, a quick ratio of 0.86 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $704.59 million, a PE ratio of 22.90 and a beta of 0.65. The business has a fifty day moving average price of $31.12 and a two-hundred day moving average price of $28.94.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The auto parts company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.44 by $0.37. The business had revenue of $413.38 million for the quarter, compared to the consensus estimate of $394.38 million. Standard Motor Products had a return on equity of 12.12% and a net margin of 2.02%. Standard Motor Products's revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. On average, research analysts predict that Standard Motor Products will post 3.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Standard Motor Products

A number of large investors have recently added to or reduced their stakes in the company. Yousif Capital Management LLC bought a new position in Standard Motor Products during the 2nd quarter worth about $237,000. Inspire Investing LLC increased its holdings in Standard Motor Products by 192.8% during the 2nd quarter. Inspire Investing LLC now owns 40,562 shares of the auto parts company's stock worth $1,246,000 after purchasing an additional 26,708 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Standard Motor Products by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 29,815 shares of the auto parts company's stock valued at $916,000 after acquiring an additional 587 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Standard Motor Products by 8.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,426 shares of the auto parts company's stock valued at $381,000 after acquiring an additional 991 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Standard Motor Products by 26.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,609 shares of the auto parts company's stock valued at $172,000 after acquiring an additional 1,182 shares in the last quarter. Institutional investors own 81.26% of the company's stock.

Standard Motor Products Company Profile

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.