FY2016 EPS Estimates for Standard Motor Products, Inc. (SMP) Lowered by Jefferies Group

FY2016 EPS Estimates for Standard Motor Products, Inc. (SMP) Lowered by Jefferies Group

Standard Motor Products, Inc. (NYSE:SMP) – Jefferies Group lowered their FY2016 earnings per share estimates for Standard Motor Products in a research report issued on Friday. Jefferies Group analyst B. Jordan now expects that the brokerage will post earnings per share of $2.91 for the year, down from their prior estimate of $2.97. Jefferies Group has a “Buy” rating and a $56.00 price objective on the stock. Jefferies Group also issued estimates for Standard Motor Products’ Q4 2016 earnings at $0.56 EPS, Q4 2017 earnings at $0.64 EPS and FY2018 earnings at $3.59 EPS.

Separately, Zacks Investment Research lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Wednesday, December 28th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $49.75.

Shares of Standard Motor Products (NYSE:SMP) opened at 50.26 on Monday. The company has a market capitalization of $1.15 billion, a P/E ratio of 20.18 and a beta of 1.80. Standard Motor Products has a 12-month low of $29.69 and a 12-month high of $55.37. The stock has a 50 day moving average of $52.32 and a 200-day moving average of $47.68.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Thursday, October 27th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. Standard Motor Products had a net margin of 5.54% and a return on equity of 15.04%. The firm had revenue of $300.80 million for the quarter, compared to the consensus estimate of $300.67 million. During the same period in the previous year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis.

A number of institutional investors have recently made changes to their positions in SMP. PineBridge Investments L.P. boosted its position in shares of Standard Motor Products by 8.1% in the second quarter. PineBridge Investments L.P. now owns 2,504 shares of the company’s stock valued at $100,000 after buying an additional 187 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Standard Motor Products by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 2,838 shares of the company’s stock valued at $113,000 after buying an additional 341 shares during the period. SG Americas Securities LLC purchased a new position in shares of Standard Motor Products during the third quarter valued at about $121,000. Creative Planning boosted its position in shares of Standard Motor Products by 15.2% in the third quarter. Creative Planning now owns 2,550 shares of the company’s stock valued at $122,000 after buying an additional 337 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Standard Motor Products by 216.2% in the second quarter. BlackRock Inc. now owns 3,772 shares of the company’s stock valued at $150,000 after buying an additional 2,579 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

In other news, insider Peter J. Sills sold 2,274 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $47.80, for a total transaction of $108,697.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter J. Sills sold 15,000 shares of the stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $51.01, for a total value of $765,150.00. Following the transaction, the director now owns 376,001 shares of the company’s stock, valued at $19,179,811.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,046 shares of company stock valued at $1,342,042. Company insiders own 6.50% of the company’s stock.

About Standard Motor Products

Standard Motor Products, Inc is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment.

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