Weiss Ratings Reaffirms "Hold (C)" Rating for Standard Motor Products (NYSE:SMP)

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for Standard Motor Products, while Wall Street Zen upgraded the stock from a "buy" to a "strong-buy" rating.
• Standard Motor Products reported earnings of $1.29 per share for the last quarter, exceeding analysts' expectations of $0.97, and showed a 26.7% increase in revenue year-over-year.
• The company's stock has a market capitalization of $869.92 million and has traded between a low of $21.38 and a high of $41.75 over the past year.

Standard Motor Products (NYSE:SMP - Get Free Report)'s stock had its "hold (c)" rating reiterated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Standard Motor Products Trading Up 0.5%

NYSE SMP traded up $0.21 on Wednesday, reaching $39.56. 87,571 shares of the company were exchanged, compared to its average volume of 126,369. The business's fifty day moving average price is $38.77 and its 200 day moving average price is $32.10. The stock has a market capitalization of $869.92 million, a P/E ratio of 22.48 and a beta of 0.67. The company has a current ratio of 2.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Standard Motor Products has a fifty-two week low of $21.38 and a fifty-two week high of $41.75.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.32. The company had revenue of $493.85 million for the quarter, compared to analyst estimates of $450.21 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%.The firm's revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Analysts forecast that Standard Motor Products will post 3.08 earnings per share for the current year.

Hedge Funds Weigh In On Standard Motor Products

Several hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC lifted its stake in Standard Motor Products by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 29,228 shares of the auto parts company's stock worth $729,000 after acquiring an additional 463 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Standard Motor Products by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the auto parts company's stock worth $310,000 after acquiring an additional 546 shares in the last quarter. Legal & General Group Plc lifted its stake in Standard Motor Products by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 54,801 shares of the auto parts company's stock worth $1,683,000 after acquiring an additional 628 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Standard Motor Products by 4,842.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company's stock worth $29,000 after acquiring an additional 920 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in Standard Motor Products by 7.4% during the 1st quarter. Inspire Investing LLC now owns 13,854 shares of the auto parts company's stock worth $345,000 after acquiring an additional 958 shares in the last quarter. Institutional investors and hedge funds 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.

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