Motorcar Parts of America (MPAA) Upgraded at BidaskClub

BidaskClub upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday morning.

A number of other analysts also recently weighed in on MPAA. ValuEngine raised shares of Motorcar Parts of America from a strong sell rating to a sell rating in a research report on Friday, August 10th. Roth Capital set a $25.00 target price on shares of Motorcar Parts of America and gave the company a hold rating in a research report on Sunday, August 12th. Finally, Zacks Investment Research raised shares of Motorcar Parts of America from a strong sell rating to a hold rating in a research report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $30.67.

NASDAQ:MPAA traded down $4.59 on Wednesday, reaching $17.20. 2,204,849 shares of the stock traded hands, compared to its average volume of 180,335. The company has a market capitalization of $412.37 million, a PE ratio of 10.11 and a beta of 1.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.48 and a current ratio of 1.46. Motorcar Parts of America has a 1-year low of $12.09 and a 1-year high of $28.98.

Motorcar Parts of America (NASDAQ:MPAA) last released its earnings results on Thursday, August 9th. The auto parts company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The firm had revenue of $92.57 million for the quarter, compared to analyst estimates of $95.73 million. Motorcar Parts of America had a net margin of 0.86% and a return on equity of 10.53%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. Research analysts predict that Motorcar Parts of America will post 1.91 EPS for the current year.

In other news, Director Rudolph J. Borneo sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $26.39, for a total transaction of $79,170.00. Following the completion of the sale, the director now owns 3,000 shares of the company’s stock, valued at approximately $79,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Edwin Ferguson sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $26.45, for a total transaction of $26,450.00. Following the sale, the director now directly owns 3,742 shares of the company’s stock, valued at approximately $98,975.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,500 shares of company stock valued at $422,120. Insiders own 4.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Barclays PLC grew its position in shares of Motorcar Parts of America by 93.9% during the 1st quarter. Barclays PLC now owns 5,864 shares of the auto parts company’s stock worth $125,000 after buying an additional 2,840 shares during the period. SG Americas Securities LLC bought a new position in shares of Motorcar Parts of America in the 2nd quarter worth $126,000. GSA Capital Partners LLP bought a new position in shares of Motorcar Parts of America in the 2nd quarter worth $308,000. Group One Trading L.P. lifted its holdings in shares of Motorcar Parts of America by 636.7% in the 3rd quarter. Group One Trading L.P. now owns 17,116 shares of the auto parts company’s stock worth $401,000 after purchasing an additional 20,305 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Motorcar Parts of America by 18.0% in the 2nd quarter. First Trust Advisors LP now owns 21,616 shares of the auto parts company’s stock worth $404,000 after purchasing an additional 3,295 shares in the last quarter.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy duty trucks, and industrial and agricultural application parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers, brake power boosters, and diagnostic equipment.

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