Motorcar Parts of America, Inc. (MPAA) Rating Increased to Hold at Zacks Investment Research

Motorcar Parts of America, Inc. (NASDAQ:MPAA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday. The firm currently has a $28.00 price target on the auto parts company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.45% from the stock’s current price.

According to Zacks, “Mototcar Parts & Accessories Inc. is a leading manufacturer of replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. The company’s full line of alternators and starters are remanufactured for vehicles imported from Japan, Germany, Sweden, France and Korea. The imported vehicles for which the company remanufactures alternators and starters also include vehicles produced by GM, Chrysler and Ford. The company also assembles and distributes ignition wire sets for imported and domestic cars and light trucks. “

A number of other research analysts also recently weighed in on MPAA. ValuEngine downgraded Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. B. Riley reaffirmed a “buy” rating and set a $39.00 price target on shares of Motorcar Parts of America in a research note on Monday, June 12th. Roth Capital set a $31.00 price target on Motorcar Parts of America and gave the stock a “buy” rating in a research note on Tuesday, June 13th. BidaskClub downgraded Motorcar Parts of America from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, FBR & Co reissued an “outperform” rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $34.25.

Shares of Motorcar Parts of America (MPAA) opened at 24.90 on Wednesday. The company has a 50-day moving average price of $27.34 and a 200-day moving average price of $28.43. Motorcar Parts of America has a 12 month low of $21.75 and a 12 month high of $31.57. The firm has a market cap of $464.01 million, a price-to-earnings ratio of 12.90 and a beta of 0.94.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Motorcar Parts of America had a return on equity of 16.77% and a net margin of 8.75%. The business had revenue of $95.06 million for the quarter, compared to the consensus estimate of $93.60 million. During the same period in the prior year, the business earned $0.52 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts forecast that Motorcar Parts of America will post $2.38 earnings per share for the current fiscal year.

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In other news, Director Rudolph J. Borneo sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $27.49, for a total value of $82,470.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at $82,470. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Douglas Earl Schooner sold 1,192 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $28.57, for a total value of $34,055.44. Following the completion of the sale, the vice president now directly owns 4,235 shares of the company’s stock, valued at $120,993.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,531 shares of company stock valued at $267,616. Company insiders own 4.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. increased its stake in shares of Motorcar Parts of America by 9.2% in the first quarter. Ameriprise Financial Inc. now owns 1,416,761 shares of the auto parts company’s stock valued at $43,538,000 after buying an additional 119,322 shares during the period. Karp Capital Management Corp bought a new stake in shares of Motorcar Parts of America during the first quarter valued at approximately $297,000. Icon Advisers Inc. Co. increased its stake in shares of Motorcar Parts of America by 307.1% in the first quarter. Icon Advisers Inc. Co. now owns 47,220 shares of the auto parts company’s stock valued at $1,451,000 after buying an additional 35,620 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Motorcar Parts of America by 13.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,477 shares of the auto parts company’s stock valued at $107,000 after buying an additional 412 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Motorcar Parts of America by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 26,840 shares of the auto parts company’s stock valued at $824,000 after buying an additional 1,667 shares during the period.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications.

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