SMP - Standard Motor Products: Good Earnings Outlook With Good P/E Ratio

2024-03-28 08:47:54 ET

Summary

• Standard Motor Products' stock plummeted last month, reaching a new 52-week low, but i believe it is a good value play for investors.
• The company's profitability declined in 2023, with sales falling by 1% and selling, general, and administrative expenses increasing.
• Despite the decline in profitability, Standard Motor Products improved its balance sheet by reducing long-term debt and increasing shareholder equity.

Standard Motor Products ( SMP ), an automotive parts manufacturer saw its stock plummet last month after reporting disappointing fourth quarter earnings . The selloff intensified in the couple of weeks following the report until the stock made a new 52 week low, down 25%. After reviewing the company’s earnings report and outlook, I purchased shares of Standard Motor Products as I believe the company is a good value play for investors....

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