The stock of Standard Motor Products, Inc. (NYSE:SMP) hit a new 52-week high and has $58.19 target or 22.00% above today’s $47.70 share price. The 6 months bullish chart indicates low risk for the $1.08B company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $58.19 price target is reached, the company will be worth $237.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 32,653 shares traded hands. Standard Motor Products, Inc. (NYSE:SMP) has risen 58.46% since February 26, 2016 and is uptrending. It has outperformed by 48.04% the S&P500.
Analysts await Standard Motor Products, Inc. (NYSE:SMP) to report earnings on November, 3. They expect $0.85 earnings per share, up 6.25% or $0.05 from last year’s $0.8 per share. SMP’s profit will be $19.25M for 14.03 P/E if the $0.85 EPS becomes a reality. After $0.88 actual earnings per share reported by Standard Motor Products, Inc. for the previous quarter, Wall Street now forecasts -3.41% negative EPS growth.
Standard Motor Products, Inc. (NYSE:SMP) Ratings Coverage
Out of 3 analysts covering Standard Motor (NYSE:SMP), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Standard Motor has been the topic of 4 analyst reports since October 15, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Sidoti on Monday, April 18. The firm earned “Buy” rating on Thursday, October 15 by BB&T Capital. The firm has “Buy” rating given on Thursday, August 4 by Jefferies. Jefferies initiated the stock with “Buy” rating in Tuesday, October 20 report.
According to Zacks Investment Research, “Standard Motor Products manufactures and distributes replacement parts for motor vehicles. They are now organized into two principal segments, each focused on a specific type of replacement part. The Engine Management Division consists primarily of ignition and emission parts, on-board computers, ignition wires, battery cables and fuel system parts. The Temperature Control Division consists primarily of air conditioning compressors, other air conditioning parts and heater parts.”
Insitutional Activity: The institutional sentiment increased to 1.72 in Q2 2016. Its up 0.52, from 1.2 in 2016Q1. The ratio increased, as 8 funds sold all Standard Motor Products, Inc. shares owned while 31 reduced positions. 10 funds bought stakes while 57 increased positions. They now own 17.94 million shares or 0.67% more from 17.82 million shares in 2016Q1.
Teton Inc has invested 0.44% of its portfolio in Standard Motor Products, Inc. (NYSE:SMP). New York State Common Retirement Fund owns 39,011 shares or 0% of their US portfolio. Pub Sector Pension Investment Board last reported 13,754 shares in the company. Suntrust Banks, a Georgia-based fund reported 6,243 shares. Teachers Retirement Systems Of The State Of Kentucky accumulated 5,500 shares or 0% of the stock. Perkins Inv Management Ltd Limited Liability Company holds 0.77% or 1.28M shares in its portfolio. Legal & General Gru Public Limited Company has invested 0% of its portfolio in Standard Motor Products, Inc. (NYSE:SMP). Third Avenue Mngmt Limited Liability Company has 153,870 shares for 0.27% of their US portfolio. Zebra Mngmt Limited Com has 24,533 shares for 0.34% of their US portfolio. Aqr Mngmt Limited Liability Com accumulated 55,671 shares or 0% of the stock. Strs Ohio accumulated 21,500 shares or 0% of the stock. Bnp Paribas Arbitrage holds 0% of its portfolio in Standard Motor Products, Inc. (NYSE:SMP) for 6,504 shares. Paradigm Asset Management Ltd Liability owns 450 shares or 0% of their US portfolio. Blackrock Gru Ltd holds 0% of its portfolio in Standard Motor Products, Inc. (NYSE:SMP) for 22,937 shares. Thrivent Financial For Lutherans last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 10 sales for $1.47 million net activity. STURDIVANT FREDERICK D sold $89,160 worth of stock. The insider SILLS PETER J sold $108,675. Another trade for 10,000 shares valued at $428,000 was sold by SILLS ARTHUR S. Tesoro Thomas sold $43,190 worth of stock. Nicholas Ray sold $72,258 worth of stock. GETHIN JOHN P sold $81,767 worth of stock or 2,145 shares.
More important recent Standard Motor Products, Inc. (NYSE:SMP) news were published by: Finance.Yahoo.com which released: “Standard Motor Products, Inc. Announces TechSmart “Show Us Your Shop” Contest” on September 06, 2016, also Prnewswire.com published article titled: “Standard Motor Products, Inc. Announces “Work Smarter, Not Harder” Giveaway”, Prnewswire.com published: “Standard Motor Products, Inc. Announces Key Management Changes and Retirement …” on October 29, 2015. More interesting news about Standard Motor Products, Inc. (NYSE:SMP) was released by: Prnewswire.com and their article: “Standard Motor Products, Inc. Announces Fourth Quarter and Year End 2015 Results” with publication date: February 26, 2016.
SMP Company Profile
Standard Motor Products, Inc., incorporated in December 30, 1926, is a maker 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 Firm operates through two divisions: Engine Management Segment and Temperature Control Segment. The Engine Management Segment makes and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems. The Temperature Control Segment makes and remanufactures air conditioning compressors, air conditioning and heating parts, engine cooling system parts, power window accessories, and windshield washer system parts. The Firm sells its products to warehouse distributors, large retail chains, original equipment manufacturers and original equipment service part activities in the United States, Canada, Latin America and Europe.
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