Standard Motor Products (SMP) was Reiterated by FBR Capital to “Mkt Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 40 from a previous price target of $38 . FBR Capital advised their investors in a research report released on Aug 4, 2016.
On the company’s financial health, Standard Motor Products reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.73. The company had revenue of $289.00 million for the quarter, compared to analysts expectations of $279.85 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.
Standard Motor Products closed down -0.4 points or -0.95% at $41.69 with 89,386 shares getting traded on Tusday. Post opening the session at $42.16, the shares hit an intraday low of $41.4 and an intraday high of $42.4499 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 15, 2016, Ray Nicholas (VP IT & CIO) sold 1,931 shares at $37.42 per share price. According to the SEC, on Jun 9, 2016, John P Gethin (director) sold 2,145 shares at $38.12 per share price. On Nov 4, 2015, Frederick D Sturdivant (director) sold 1,500 shares at $44.16 per share price, according to the Form-4 filing with the securities and exchange commission.
Standard Motor Products Inc. is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry. The Company is organized into two operating segments each of which focuses on specific lines of replacement parts. The Companys Engine Management Segment manufactures ignition and emission parts ignition wires battery cables fuel system parts and sensors for vehicle systems. The Companys Temperature Control Segment manufactures and remanufactures air conditioning compressors air conditioning and heating parts engine cooling system parts power window accessories and windshield washer system parts. The Company sells its products to warehouse distributors large retail chains original equipment manufacturers and original equipment service part operations in the United States Canada Latin America and Europe.