In a report released yesterday, Christopher Van Horn from B.Riley FBR maintained a Hold rating on Standard Motor Products (SMP), with a price target of $48. The company’s shares closed yesterday at $48.03.
Van Horn said:
“We maintain our neutral stance on Standard Motor Products (SMP) following the company’s mixed 1Q19 earnings report. While the company beat consensus on the top line, margins seemed to drive EPS below expectations. SMP reported revenues of $283.7M compared to consensus of $278M; however, adjusted EPS was $0.57 compared to consensus of $0.60. The company’s revenues rose 8.4% YOY which was strong but we think that the following 3 quarters of the year will return to a more normalized growth profile. We see the weather-related component of the business model as continuing to be unpredictable year-to-year, presenting a risk to ongoing earnings power. Further, we believe that the stock trades at a fair valuation, at these levels.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 2.3% and a 48.1% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Methode Electronics, Hickok Incorporated, and Cooper Tire Rubber.
The word on The Street in general, suggests a Hold analyst consensus rating for Standard Motor Products with a $48 average price target.
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The company has a one-year high of $56.54 and a one-year low of $42.50. Currently, Standard Motor Products has an average volume of 79.35K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock.
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Standard Motor Products, Inc. engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry, which focuses on the original equipment service market. It operates through the Engine Management and Temperature Control segments.
