Standard Motor (SMP) Widens Offering With 123 Part Launches

Standard Motor Products, Inc. (NYSE:SMP) announced the inclusion of 123 new part numbers in its Standard and Intermotor lines. This involves 96 million VIO of 50 product categories, thus expanding the coverage of model-year 2018 of the company.

Further, the Long Island City, NY-based company is continuing with the expansion of its line under Advanced Driver Assistance System (ADAS) categories. This includes 15 Blind Spot Detection Sensors, five Cruise Control Distance Sensors and four Lane Departure System Cameras. With this addition, Standard Motor now offers 100 parts to its customers.

Also, the company is increasing the coverage of its two other technologies namely, variable valve timing (VVT) and EVAP systems. Under the VVT technology, the company added three solenoids and two sprockets to grow its aftermarket-leading VVT coverage. Moreover, under EVAP systems, it added eight components for increasing EVAP coverage to more than 1 million VIO.

Standard Motor Products, Inc. Price and Consensus

Per management, the quality of the launches under ADAS, VVT and EVAP categories are expected to assist technicians to serve the growing automotive technologies.

Standard Motor is one of the leading manufacturers, distributors and marketers of automotive replacement parts in the United States.

Price Performance

In a year’s time, Standard Motor’s stock has moved down 8.9%, underperforming 4.4% decline of the industry it belongs to.

Zacks Rank & Stocks to Consider

Standard Motor currently carries a Zacks Rank #5 (Strong Sell). A few better-ranked stocks in the auto space are Daimler AG (OTC:DDAIF) , Fox Factory Holding Corporation (NASDAQ:FOXF) and Magna International Inc. (NYSE:MGA) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Daimler has an expected long-term growth rate of 5%. Shares of the company have risen 9.2% over the past year.

Fox Factory has an expected long-term growth rate of 11.5%. Shares of the company have risen 16% over the past year.

Magna International has an expected long-term growth rate of 8.5%. In a year’s time, shares of the company have gained 48%.

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