Equities research analysts forecast that Standard Motor Products, Inc. (NYSE:SMP) will post earnings per share (EPS) of $0.39 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Standard Motor Products’ earnings, with estimates ranging from $0.33 to $0.45. Standard Motor Products posted earnings per share of $0.42 in the same quarter last year, which would suggest a negative year over year growth rate of 7.1%. The company is expected to report its next earnings results on Thursday, February 15th.

According to Zacks, analysts expect that Standard Motor Products will report full year earnings of $2.68 per share for the current fiscal year, with EPS estimates ranging from $2.62 to $2.73. For the next year, analysts anticipate that the business will post earnings of $3.27 per share, with EPS estimates ranging from $3.19 to $3.35. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Standard Motor Products.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.12). Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. The business had revenue of $281.06 million for the quarter. During the same quarter in the previous year, the business earned $0.92 earnings per share. The business’s quarterly revenue was down 6.5% on a year-over-year basis.

Several research analysts have commented on SMP shares. Jefferies Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Standard Motor Products in a research report on Tuesday, September 12th. Zacks Investment Research raised Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. FBR & Co reaffirmed a “hold” rating and set a $48.00 price target on shares of Standard Motor Products in a research report on Friday, October 27th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Standard Motor Products presently has a consensus rating of “Hold” and an average price target of $54.00.

Shares of Standard Motor Products (NYSE:SMP) traded up $0.36 during midday trading on Friday, hitting $45.97. The stock had a trading volume of 82,561 shares, compared to its average volume of 102,880. Standard Motor Products has a 1-year low of $40.56 and a 1-year high of $54.73. The firm has a market cap of $1,040.00, a price-to-earnings ratio of 17.68, a PEG ratio of 2.32 and a beta of 1.81.

Standard Motor Products declared that its board has approved a stock repurchase program on Monday, November 20th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, EVP Dale Burks sold 2,170 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $42.64, for a total value of $92,528.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter J. Sills sold 2,775 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $42.46, for a total value of $117,826.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,167 shares of company stock worth $923,887. 6.60% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. increased its holdings in shares of Standard Motor Products by 1.1% in the second quarter. Suntrust Banks Inc. now owns 5,949 shares of the auto parts company’s stock valued at $310,000 after purchasing an additional 64 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Standard Motor Products by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 16,970 shares of the auto parts company’s stock valued at $886,000 after purchasing an additional 80 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Standard Motor Products by 1.0% in the second quarter. Wells Fargo & Company MN now owns 38,285 shares of the auto parts company’s stock valued at $1,999,000 after purchasing an additional 397 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Standard Motor Products by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock valued at $253,000 after purchasing an additional 729 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of Standard Motor Products by 8.6% in the second quarter. Voya Investment Management LLC now owns 11,155 shares of the auto parts company’s stock valued at $583,000 after purchasing an additional 884 shares during the period. 79.16% of the stock is currently owned by institutional investors and hedge funds.

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About Standard Motor Products

Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.

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