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.