Standard Motor Products, Inc. (NYSE:SMP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Standard Motor’s earnings missed the Zacks Consensus Estimate in the second quarter, whereas revenues surpassed the same. Compared with the year-ago figures, the company’s earnings per share were lower, whereas the revenue was higher. The company is facing low gross margin issue, majorly due to acquisition of low margin businesses as well as facility relocations. Other problems faced by the company related to facility shifting are high Selling, General and Administrative charges and restructuring costs of approximately $3.7 million, which is hampering its financials. Standard Motor’s shares have also underperformed the industry it belongs to, in the last six months.”

Other analysts have also recently issued research reports about the company. Jefferies Group LLC reissued a “buy” rating on shares of Standard Motor Products in a research report on Friday, July 7th. BidaskClub raised Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st.

Standard Motor Products (SMP) traded up 0.50% on Friday, hitting $45.82. The stock had a trading volume of 202,133 shares. Standard Motor Products has a 52-week low of $42.11 and a 52-week high of $55.37. The firm has a market cap of $1.05 billion, a PE ratio of 17.08 and a beta of 1.81. The company has a 50-day moving average price of $51.58 and a 200 day moving average price of $49.86.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.18. The business had revenue of $312.73 million during the quarter, compared to analyst estimates of $310.71 million. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. Equities analysts forecast that Standard Motor Products will post $2.87 earnings per share for the current fiscal year.

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In other news, insider Lawrence I. Sills sold 7,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $50.77, for a total value of $355,390.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur S. Sills sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $50.34, for a total value of $503,400.00. Following the completion of the sale, the director now directly owns 351,010 shares of the company’s stock, valued at approximately $17,669,843.40. The disclosure for this sale can be found here. Insiders sold a total of 42,950 shares of company stock valued at $2,159,099 in the last three months. Insiders own 6.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of SMP. Park National Corp OH boosted its stake in Standard Motor Products by 0.4% in the first quarter. Park National Corp OH now owns 4,474 shares of the auto parts company’s stock worth $220,000 after buying an additional 16 shares during the last quarter. Suntrust Banks Inc. boosted its stake in shares of Standard Motor Products by 1.0% in the first quarter. Suntrust Banks Inc. now owns 5,885 shares of the auto parts company’s stock worth $289,000 after buying an additional 56 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Standard Motor Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,220 shares of the auto parts company’s stock worth $109,000 after buying an additional 60 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Standard Motor Products by 1.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,350 shares of the auto parts company’s stock worth $332,000 after buying an additional 60 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Standard Motor Products by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the auto parts company’s stock worth $403,000 after buying an additional 100 shares in the last quarter. 77.56% of the stock is owned by hedge funds and other institutional investors.

Standard Motor Products Company Profile

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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