Wall Street Zen Downgrades Motorcar Parts of America (NASDAQ:MPAA) to Buy

Motorcar Parts of America (NASDAQ:MPAA) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

A number of other equities research analysts also recently commented on the company. Zacks Research downgraded Motorcar Parts of America from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Loop Capital set a $20.00 price objective on Motorcar Parts of America in a research note on Friday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Motorcar Parts of America in a research report on Monday, December 1st. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Motorcar Parts of America presently has an average rating of “Reduce” and a consensus target price of $17.00.

Motorcar Parts of America Trading Down 7.0%

Shares of MPAA opened at $12.80 on Friday. Motorcar Parts of America has a 1 year low of $5.38 and a 1 year high of $18.12. The company has a 50 day simple moving average of $14.65 and a two-hundred day simple moving average of $13.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.46 and a quick ratio of 0.46. The firm has a market cap of $250.37 million, a P/E ratio of 116.36 and a beta of 1.26.

Motorcar Parts of America declared that its board has authorized a stock buyback plan on Monday, December 8th that authorizes the company to buyback $57.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 22.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MPAA. Dimensional Fund Advisors LP lifted its holdings in shares of Motorcar Parts of America by 1.5% in 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 last quarter. RBF Capital LLC grew its stake in shares of Motorcar Parts of America by 4.2% during the second quarter. RBF Capital LLC now owns 539,021 shares of the auto parts company’s stock valued at $6,037,000 after buying an additional 21,644 shares during the last quarter. Pure Financial Advisors LLC purchased a new stake in shares of Motorcar Parts of America in the second quarter worth approximately $5,781,000. Marshall Wace LLP lifted its stake in shares of Motorcar Parts of America by 96.6% during the 2nd quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock worth $5,667,000 after acquiring an additional 248,637 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Motorcar Parts of America by 100.6% during the 2nd quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company’s stock valued at $5,031,000 after acquiring an additional 225,225 shares during the period. 83.48% of the stock is owned by hedge funds and other institutional investors.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.