Motorcar Parts of America (NASDAQ:MPAA) Announces Earnings Results

Motorcar Parts of America (NASDAQ:MPAA) released its quarterly earnings results on Monday. The auto parts company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.91), FiscalAI reports. Motorcar Parts of America had a net margin of 1.57% and a return on equity of 5.53%. The company had revenue of $168.02 million during the quarter, compared to analyst estimates of $183.00 million.

Motorcar Parts of America Stock Performance

Shares of NASDAQ:MPAA opened at $13.63 on Monday. Motorcar Parts of America has a 52-week low of $9.29 and a 52-week high of $18.12. The company has a market capitalization of $258.06 million, a P/E ratio of 24.78 and a beta of 1.16. The company has a 50-day simple moving average of $13.98 and a 200 day simple moving average of $12.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.47 and a current ratio of 1.46.

Insiders Place Their Bets

In other Motorcar Parts of America news, SVP Jamie Leigh Cook sold 14,074 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $15.03, for a total transaction of $211,532.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MPAA. Osaic Holdings Inc. boosted its position in shares of Motorcar Parts of America by 4.1% in the second quarter. Osaic Holdings Inc. now owns 23,712 shares of the auto parts company’s stock valued at $266,000 after acquiring an additional 933 shares during the period. Lazard Asset Management LLC boosted its holdings in Motorcar Parts of America by 4.5% in the 2nd quarter. Lazard Asset Management LLC now owns 27,805 shares of the auto parts company’s stock valued at $311,000 after purchasing an additional 1,191 shares during the period. Barclays PLC boosted its holdings in Motorcar Parts of America by 6.1% in the 4th quarter. Barclays PLC now owns 20,720 shares of the auto parts company’s stock valued at $256,000 after purchasing an additional 1,196 shares during the period. Invesco Ltd. grew its position in shares of Motorcar Parts of America by 5.4% during the 2nd quarter. Invesco Ltd. now owns 39,479 shares of the auto parts company’s stock worth $442,000 after purchasing an additional 2,009 shares in the last quarter. Finally, HRT Financial LP grew its position in shares of Motorcar Parts of America by 14.4% during the 4th quarter. HRT Financial LP now owns 21,347 shares of the auto parts company’s stock worth $263,000 after purchasing an additional 2,679 shares in the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Motorcar Parts of America from a “hold” rating to a “strong-buy” rating in a report on Saturday, June 13th. Weiss Ratings raised Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Motorcar Parts of America in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Motorcar Parts of America has an average rating of “Moderate Buy” and a consensus price target of $19.00.

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.