The stock of Standard Motor Products, Inc. (NYSE:SMP) hit a new 52-week high and has $79.87 target or 68.00% above today’s $47.54 share price. The 5 months bullish chart indicates low risk for the $1.06B company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $79.87 price target is reached, the company will be worth $720.80 million 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 36,746 shares traded hands. Standard Motor Products, Inc. (NYSE:SMP) has risen 37.37% since March 31, 2016 and is uptrending. It has outperformed by 34.85% the S&P500.
Analysts await Standard Motor Products, Inc. (NYSE:SMP) to report earnings on November, 3. They expect $0.85 EPS, up 6.25% or $0.05 from last year’s $0.8 per share. SMP’s profit will be $18.95 million for 13.98 P/E if the $0.85 EPS becomes a reality. After $0.88 actual EPS 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 firm has “Buy” rating given on Thursday, August 4 by Jefferies. Jefferies initiated Standard Motor Products, Inc. (NYSE:SMP) rating on Tuesday, October 20. Jefferies has “Buy” rating and $43 price target. The stock has “Buy” rating given by Sidoti on Monday, April 18. BB&T Capital upgraded it to “Buy” rating and $41 target price in Thursday, October 15 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 is positive, 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.
Texas Permanent School Fund has 0.01% invested in the company for 15,098 shares. Teton Advisors reported 123,200 shares or 0.44% of all its holdings. Paradigm Asset Mgmt Ltd Limited Liability Company accumulated 0% or 450 shares. Northpointe Capital Lc has 0.93% invested in the company for 198,422 shares. Copeland Capital Management Limited Liability Company holds 0.94% or 343,094 shares in its portfolio. Zebra Cap Management Lc holds 0.34% or 24,533 shares in its portfolio. Moreover, Voya Invest Mngmt Ltd Llc has 0% invested in Standard Motor Products, Inc. (NYSE:SMP) for 25,688 shares. D E Shaw And last reported 44,437 shares in the company. Ameriprise Financial has invested 0% of its portfolio in Standard Motor Products, Inc. (NYSE:SMP). Wesbanco National Bank & Trust reported 13,758 shares or 0.03% of all its holdings. Retail Bank Of America De last reported 0% of its portfolio in the stock. New York State Teachers Retirement reported 55,794 shares or 0.01% of all its holdings. First Manhattan accumulated 0% or 500 shares. Suntrust Banks accumulated 6,243 shares or 0% of the stock. State Board Of Administration Of Florida Retirement last reported 14,733 shares in the company.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 24 selling transactions for $2.44 million net activity. $108,732 worth of Standard Motor Products, Inc. (NYSE:SMP) shares were sold by SILLS PETER J. Shares for $18,269 were sold by Tesoro Thomas. The insider SILLS ARTHUR S sold $428,000. Shares for $47,010 were sold by Nicholas Ray. $30,888 worth of Standard Motor Products, Inc. (NYSE:SMP) was sold by Broccole Carmine Joseph. GETHIN JOHN P sold $81,767 worth of stock or 2,145 shares. SILLS LAWRENCE I sold 1,150 shares worth $54,085.
More notable recent Standard Motor Products, Inc. (NYSE:SMP) news were published by: Prnewswire.com which released: “Standard Motor Products, Inc. Announces Supply Agreement with PurePower …” on October 25, 2016, also Prnewswire.com with their article: “Standard Motor Products, Inc. Announces Third Quarter 2016 Results and a …” published on October 27, 2016, Prnewswire.com published: “Standard Motor Products, Inc. Announces Acquisition of Automotive Ignition …” on May 23, 2016. More interesting news about Standard Motor Products, Inc. (NYSE:SMP) were released by: Prnewswire.com and their article: “Standard Motor Products, Inc. Announces “Work Smarter, Not Harder” Giveaway” published on May 16, 2016 as well as Finance.Yahoo.com‘s news article titled: “Standard Motor Products, Inc. Announces Third Quarter 2016 Earnings Conference …” with publication date: September 19, 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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