Standard Motor Products (NYSE:SMP) Downgraded by StockNews.com

Standard Motor Products (NYSE:SMPGet Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

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

Read Our Latest Analysis on SMP

Standard Motor Products Stock Performance

Shares of SMP opened at $33.09 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.45 and a quick ratio of 0.78. Standard Motor Products has a 12-month low of $30.09 and a 12-month high of $41.71. The business’s fifty day moving average price is $36.58 and its 200 day moving average price is $36.06. The stock has a market capitalization of $725.33 million, a PE ratio of 21.49 and a beta of 0.60.

Standard Motor Products (NYSE:SMPGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The auto parts company reported $0.37 earnings per share 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 business had revenue of $290.76 million for the quarter, compared to analyst estimates of $313.84 million. Equities research analysts forecast that Standard Motor Products will post 3.03 EPS for the current year.

Hedge Funds Weigh In On Standard Motor Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMP. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Standard Motor Products by 5.0% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,499 shares of the auto parts company’s stock worth $259,000 after purchasing an additional 307 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Standard Motor Products by 85.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 691 shares of the auto parts company’s stock valued at $26,000 after buying an additional 319 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Standard Motor Products by 6.0% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 5,716 shares of the auto parts company’s stock valued at $215,000 after buying an additional 326 shares during the period. Captrust Financial Advisors raised its position in shares of Standard Motor Products by 4.4% during the 2nd quarter. Captrust Financial Advisors now owns 8,528 shares of the auto parts company’s stock worth $320,000 after buying an additional 357 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Standard Motor Products by 1.0% in the 2nd quarter. Swiss National Bank now owns 42,300 shares of the auto parts company’s stock worth $1,587,000 after acquiring an additional 400 shares during the period. 77.05% of the stock is owned by institutional investors.

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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