Standard Motor Products (NYSE:SMP) Receiving Somewhat Positive Media Coverage, Report Finds

News coverage about Standard Motor Products (NYSE:SMP) has been trending somewhat positive recently, Accern Sentiment reports. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Standard Motor Products earned a news impact score of 0.24 on Accern’s scale. Accern also assigned media stories about the auto parts company an impact score of 46.2316113771404 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

Shares of Standard Motor Products (NYSE:SMP) opened at $46.10 on Tuesday. Standard Motor Products has a 12 month low of $40.56 and a 12 month high of $54.73. The stock has a market cap of $1,046.09, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.36 and a beta of 1.81.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.12). Standard Motor Products had a net margin of 4.97% and a return on equity of 13.68%. The company had revenue of $281.06 million for the quarter. During the same period in the previous year, the company earned $0.92 earnings per share. The business’s quarterly revenue was down 6.5% on a year-over-year basis. equities analysts anticipate that Standard Motor Products will post 2.67 earnings per share for the current fiscal year.

Standard Motor Products announced that its board has authorized a stock buyback plan on Monday, November 20th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

SMP has been the subject of several analyst reports. FBR & Co reissued a “hold” rating and issued a $48.00 price objective on shares of Standard Motor Products in a research note on Friday, October 27th. Zacks Investment Research raised shares of Standard Motor Products from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, B. Riley reissued a “neutral” rating on shares of Standard Motor Products in a research note on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.00.

In other news, VP Thomas Tesoro sold 775 shares of Standard Motor Products stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $44.18, for a total transaction of $34,239.50. Following the completion of the sale, the vice president now owns 31,456 shares of the company’s stock, valued at $1,389,726.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $92,528.80. The disclosure for this sale can be found here. Insiders have sold 8,869 shares of company stock valued at $384,820 in the last ninety days. Insiders own 6.60% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Standard Motor Products (NYSE:SMP)

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