The stock of Standard Motor Products, Inc. (NYSE:SMP) hit a new 52-week high and has $53.05 target or 3.00% above today’s $51.50 share price. The 5 months bullish chart indicates low risk for the $1.17B company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $53.05 price target is reached, the company will be worth $35.10M 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. The stock increased 1.34% or $0.68 during the last trading session, hitting $51.5. About 141,733 shares traded hands or 27.07% up from the average. Standard Motor Products, Inc. (NYSE:SMP) has risen 45.32% since April 22, 2016 and is uptrending. It has outperformed by 39.92% the S&P500.
Analysts await Standard Motor Products, Inc. (NYSE:SMP) to report earnings on February, 24. They expect $0.56 earnings per share, up 60.00% or $0.21 from last year’s $0.35 per share. SMP’s profit will be $12.72M for 22.99 P/E if the $0.56 EPS becomes a reality. After $0.92 actual earnings per share reported by Standard Motor Products, Inc. for the previous quarter, Wall Street now forecasts -39.13% 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 rating was maintained by Jefferies with “Buy” on Thursday, August 4. The company was initiated on Tuesday, October 20 by Jefferies. The company was initiated on Monday, April 18 by Sidoti. The stock of Standard Motor Products, Inc. (NYSE:SMP) earned “Buy” rating by BB&T Capital on Thursday, October 15.
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 decreased to 1.35 in Q2 2016. Its down 0.37, from 1.72 in 2016Q1. The ratio is negative, 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.
Art Advsr has 6,203 shares for 0.01% of their US portfolio. The California-based First Quadrant L P Ca has invested 0% in Standard Motor Products, Inc. (NYSE:SMP). Burney Com accumulated 0.02% or 7,260 shares. State Common Retirement Fund reported 39,011 shares or 0% of all its holdings. Parametric Portfolio Ltd Liability Co has invested 0% of its portfolio in Standard Motor Products, Inc. (NYSE:SMP). The Kansas-based Creative Planning has invested 0% in Standard Motor Products, Inc. (NYSE:SMP). Moreover, Neumeier Poma Counsel Ltd Llc has 0.39% invested in Standard Motor Products, Inc. (NYSE:SMP) for 62,375 shares. First Trust Lp has 36,392 shares for 0% of their US portfolio. Prudential owns 117,387 shares or 0.01% of their US portfolio. Teachers Advsr Inc has 0% invested in the company for 34,975 shares. Paradigm Asset Mngmt Communication Ltd Co accumulated 0% or 450 shares. Teacher Retirement System Of Texas last reported 0% of its portfolio in the stock. Thrivent Fincl For Lutherans holds 0% or 9,630 shares in its portfolio. Fmr Ltd Liability Co accumulated 1.70M shares or 0.01% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 27 sales for $2.51 million net activity. SILLS PETER J also sold $108,713 worth of Standard Motor Products, Inc. (NYSE:SMP) shares. $54,085 worth of Standard Motor Products, Inc. (NYSE:SMP) was sold by SILLS LAWRENCE I. BURKE JAMES J had sold 4,300 shares worth $206,873 on Monday, November 7. $51,854 worth of Standard Motor Products, Inc. (NYSE:SMP) was sold by Tesoro Thomas. 650 shares were sold by Broccole Carmine Joseph, worth $30,888 on Friday, October 7. STURDIVANT FREDERICK D had sold 500 shares worth $23,655 on Wednesday, November 9. Nicholas Ray had sold 1,000 shares worth $47,010.
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 Earnings Conference …” published on September 19, 2016, Prnewswire.com published: “Standard Motor Products, Inc. Announces Fourth Quarter and Year End 2015 Results” on February 26, 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 Results and a …” published on October 27, 2016 as well as Prnewswire.com‘s news article titled: “Standard Motor Products, Inc. Announces “Work Smarter, Not Harder” Giveaway” with publication date: May 16, 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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