The stock of Standard Motor Products, Inc. (NYSE:SMP) reached all time high today, Nov, 16 and still has $63.51 target or 25.00% above today’s $50.81 share price. This indicates more upside for the $1.17B company. This technical setup was reported by Barchart.com. If the $63.51 PT is reached, the company will be worth $292.50 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 62,589 shares traded hands. Standard Motor Products, Inc. (NYSE:SMP) has risen 50.07% since April 14, 2016 and is uptrending. It has outperformed by 45.39% the S&P500.
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. As per Thursday, August 4, the company rating was maintained by Jefferies. The firm has “Buy” rating by Sidoti given on Monday, April 18. The company was upgraded on Thursday, October 15 by BB&T Capital. Jefferies initiated Standard Motor Products, Inc. (NYSE:SMP) rating on Tuesday, October 20. Jefferies has “Buy” rating and $43 price target.
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 2016 Q2. Its up 0.52, from 1.2 in 2016Q1. The ratio improved, 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.
Group Incorporated accumulated 15,694 shares or 0% of the stock. Clinton Incorporated accumulated 7,972 shares or 0.01% of the stock. The Washington-based Parametric Assocs Limited Liability Company has invested 0% in Standard Motor Products, Inc. (NYSE:SMP). Moreover, First Quadrant L P Ca has 0% invested in Standard Motor Products, Inc. (NYSE:SMP) for 4,900 shares. Arizona State Retirement Systems owns 10,298 shares or 0.01% of their US portfolio. Macquarie Group Ltd has 0.06% invested in the company for 821,480 shares. Legal General Group Public Limited Com last reported 0% of its portfolio in the stock. Ifrah Financial Inc holds 0.09% or 5,898 shares in its portfolio. Dimensional Fund Advisors L P holds 0.04% or 1.61M shares in its portfolio. Tiaa Cref Invest Mgmt Lc last reported 108,108 shares in the company. State Of Tennessee Treasury Department holds 0% of its portfolio in Standard Motor Products, Inc. (NYSE:SMP) for 15,874 shares. Fmr Lc has 0.01% invested in the company for 1.70 million shares. Millennium Management Lc last reported 16,357 shares in the company. Zebra Capital Llc last reported 24,533 shares in the company. New York State Common Retirement Fund, a New York-based fund reported 39,011 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 28 selling transactions for $2.89 million net activity. $18,269 worth of Standard Motor Products, Inc. (NYSE:SMP) was sold by Tesoro Thomas on Friday, October 14. $108,675 worth of Standard Motor Products, Inc. (NYSE:SMP) was sold by SILLS PETER J on Tuesday, September 13. STURDIVANT FREDERICK D sold 1,200 shares worth $51,696. GETHIN JOHN P had sold 2,145 shares worth $81,767. Another trade for 10,000 shares valued at $428,000 was made by SILLS ARTHUR S on Tuesday, August 16. $42,354 worth of Standard Motor Products, Inc. (NYSE:SMP) was sold by BURKS DALE on Friday, October 7. 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 Forbes.com with their article: “Ex-Dividend Reminder: Standard Motor Products, HanesBrands and Kroger” published on November 08, 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 Third Quarter 2016 Earnings Conference …” published on September 19, 2016 as well as Prnewswire.com‘s news article titled: “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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