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

Motorcar Parts of America, Inc. (NASDAQ:MPAA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “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. The Company sells its products in North America to auto parts retail and traditional warehouse chains and to automobile manufacturers for both their aftermarket programs and their warranty replacement programs. It recycles materials, including metal from the used cores and corrugated packaging. The Company carries over a huge stock keeping units (SKUs) for automotive parts that are sold under its customers’ recognized private label brand names and its Quality-Built, Pure Energy, Xtreme, Reliance and other brand names. It sells its products to automotive retail outlets and the professional repair market throughout the United States and Canada. Motorcar is headquartered in Torrance, CA. “

Several other research firms also recently issued reports on MPAA. BidaskClub raised Motorcar Parts of America from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. ValuEngine downgraded Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. B. Riley reaffirmed a “buy” rating on shares of Motorcar Parts of America in a research note on Wednesday, November 1st. TheStreet raised Motorcar Parts of America from a “c” rating to a “b-” rating in a research note on Monday, October 9th. Finally, Roth Capital set a $32.00 price objective on Motorcar Parts of America and gave the company a “buy” rating in a research note on Sunday, August 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $35.50.

Shares of Motorcar Parts of America (NASDAQ:MPAA) traded up $0.12 during midday trading on Thursday, reaching $25.29. The company’s stock had a trading volume of 145,830 shares, compared to its average volume of 145,264. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.89. The firm has a market capitalization of $482.27, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 0.48 and a beta of 0.94. Motorcar Parts of America has a 12-month low of $24.13 and a 12-month high of $31.57.

Motorcar Parts of America (NASDAQ:MPAA) last issued its earnings results on Thursday, November 9th. The auto parts company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.06). The business had revenue of $111.77 million for the quarter, compared to analyst estimates of $112.83 million. Motorcar Parts of America had a return on equity of 15.15% and a net margin of 8.03%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. equities research analysts forecast that Motorcar Parts of America will post 2.32 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in MPAA. Royal Bank of Canada boosted its holdings in shares of Motorcar Parts of America by 533.9% during the 2nd quarter. Royal Bank of Canada now owns 835,139 shares of the auto parts company’s stock worth $23,584,000 after buying an additional 703,390 shares in the last quarter. Ashford Capital Management Inc. bought a new position in shares of Motorcar Parts of America during the 2nd quarter worth approximately $11,330,000. Vanguard Group Inc. boosted its holdings in shares of Motorcar Parts of America by 24.2% during the 1st quarter. Vanguard Group Inc. now owns 993,275 shares of the auto parts company’s stock worth $30,523,000 after buying an additional 193,579 shares in the last quarter. Northpointe Capital LLC boosted its holdings in shares of Motorcar Parts of America by 268.7% during the 2nd quarter. Northpointe Capital LLC now owns 254,344 shares of the auto parts company’s stock worth $7,183,000 after buying an additional 185,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Motorcar Parts of America by 13.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,076,980 shares of the auto parts company’s stock worth $30,414,000 after buying an additional 123,693 shares in the last quarter.

About Motorcar Parts of America

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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