Motorcar Parts of America (NASDAQ:MPAA) Issues Earnings Results, Misses Estimates By $0.14 EPS

Motorcar Parts of America (NASDAQ:MPAA) issued its quarterly earnings data on Monday. The auto parts company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.14), FiscalAI reports. The business had revenue of $167.70 million for the quarter, compared to the consensus estimate of $189.00 million. Motorcar Parts of America had a net margin of 0.31% and a return on equity of 5.76%.

Motorcar Parts of America Stock Performance

Shares of MPAA opened at $13.14 on Monday. The company has a market capitalization of $257.02 million, a PE ratio of 119.45 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.46 and a quick ratio of 0.46. Motorcar Parts of America has a one year low of $5.38 and a one year high of $18.12. The company’s fifty day moving average price is $12.88 and its 200 day moving average price is $14.03.

Analyst Ratings Changes

MPAA has been the topic of several analyst reports. Wall Street Zen lowered shares of Motorcar Parts of America from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Motorcar Parts of America in a report on Monday, December 29th. Zacks Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Loop Capital set a $20.00 target price on Motorcar Parts of America in a report on Friday, December 12th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Motorcar Parts of America has a consensus rating of “Reduce” and an average target price of $20.00.

Institutional Investors Weigh In On Motorcar Parts of America

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Motorcar Parts of America by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,050,779 shares of the auto parts company’s stock worth $17,379,000 after acquiring an additional 15,464 shares during the period. Marshall Wace LLP raised its position in Motorcar Parts of America by 96.6% in the second quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock worth $5,667,000 after purchasing an additional 248,637 shares in the last quarter. Geode Capital Management LLC lifted its stake in Motorcar Parts of America by 100.6% during the second quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company’s stock worth $5,031,000 after purchasing an additional 225,225 shares during the period. Invesco Ltd. lifted its stake in Motorcar Parts of America by 391.2% during the third quarter. Invesco Ltd. now owns 193,939 shares of the auto parts company’s stock worth $3,208,000 after purchasing an additional 154,460 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in Motorcar Parts of America by 15.7% during the third quarter. Bridgeway Capital Management LLC now owns 186,743 shares of the auto parts company’s stock valued at $3,089,000 after purchasing an additional 25,277 shares in the last quarter. 83.48% of the stock is owned by institutional investors.

Motorcar Parts of America declared that its board has initiated a share repurchase plan on Monday, December 8th that permits the company to repurchase $57.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 22.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.

In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.