Company saw strong gains in three of four operating segments, led by Temperature Control
Board approved quarterly dividend of 33 cents per share, up from 31 cents last year
Result drivers
Temperature Control demand - Adjusted net sales in Temperature Control rose 15.7%, driven by timing of preseason orders, despite cooler, wetter weather in May
Nissens Automotive growth - Nissens Automotive adjusted net sales rose 4.8%, helped by local currency sales growth and stronger currency conversion
Engineered Solutions recovery - Adjusted net sales in Engineered Solutions grew 16.8% as demand recovered across all end-markets
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"
Wall Street's median 12-month price target for Standard Motor Products Inc is $46.00, about 18.6% above its August 3 closing price of $38.78
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago
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