Standard Motor Products (NYSE:SMP) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Standard Motor Products (NYSE:SMPFree Report) from a hold rating to a buy rating in a report released on Friday.

Separately, TheStreet lowered shares of Standard Motor Products from a b rating to a c+ rating in a research report on Thursday, February 22nd.

Read Our Latest Report on Standard Motor Products

Standard Motor Products Stock Performance

Shares of SMP stock opened at $33.35 on Friday. The company’s fifty day simple moving average is $35.83 and its 200-day simple moving average is $36.00. The company has a quick ratio of 0.78, a current ratio of 2.45 and a debt-to-equity ratio of 0.23. The firm has a market cap of $731.03 million, a PE ratio of 21.66 and a beta of 0.61. Standard Motor Products has a 12 month low of $30.09 and a 12 month high of $41.71.

Standard Motor Products (NYSE:SMPGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.25). Standard Motor Products had a return on equity of 10.09% and a net margin of 2.51%. The firm had revenue of $290.76 million for the quarter, compared to the consensus estimate of $313.84 million. Equities research analysts expect that Standard Motor Products will post 3.03 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Wednesday, February 14th. Standard Motor Products’s dividend payout ratio (DPR) is currently 75.33%.

Hedge Funds Weigh In On Standard Motor Products

Several institutional investors and hedge funds have recently modified their holdings of SMP. Pacer Advisors Inc. acquired a new position in shares of Standard Motor Products in the fourth quarter valued at about $38,215,000. Gabelli Funds LLC lifted its position in Standard Motor Products by 0.6% during the third quarter. Gabelli Funds LLC now owns 315,000 shares of the auto parts company’s stock worth $10,590,000 after purchasing an additional 2,000 shares during the period. Invesco Ltd. lifted its position in Standard Motor Products by 73.4% during the third quarter. Invesco Ltd. now owns 216,723 shares of the auto parts company’s stock worth $7,286,000 after purchasing an additional 91,730 shares during the period. Gamco Investors INC. ET AL lifted its position in Standard Motor Products by 14.7% during the third quarter. Gamco Investors INC. ET AL now owns 296,400 shares of the auto parts company’s stock worth $9,965,000 after purchasing an additional 37,877 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Standard Motor Products in the third quarter worth about $282,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Company Profile

(Get Free Report)

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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