Motorcar Parts of America (NASDAQ:MPAA) Stock Rating Cut to Strong Sell at Zacks Research

Motorcar Parts of America (NASDAQ:MPAA) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Motorcar Parts of America from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 25th. Wall Street Zen downgraded shares of Motorcar Parts of America from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Raymond James Financial set a $16.00 price target on shares of Motorcar Parts of America in a research note on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Motorcar Parts of America Stock Performance

MPAA opened at $10.59 on Monday. Motorcar Parts of America has a 12 month low of $9.29 and a 12 month high of $18.12. The business has a 50-day moving average of $11.38 and a two-hundred day moving average of $12.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.39 and a current ratio of 1.44.

Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings data on Monday, August 10th. The auto parts company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.91). The company had revenue of $168.02 million for the quarter, compared to analysts’ expectations of $183.00 million. Motorcar Parts of America had a negative return on equity of 0.57% and a negative net margin of 0.53%. Sell-side analysts anticipate that Motorcar Parts of America will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Motorcar Parts of America

Large investors have recently modified their holdings of the company. Donald Smith & CO. Inc. purchased a new position in Motorcar Parts of America in the second quarter valued at approximately $18,965,000. Dimensional Fund Advisors LP grew its stake in Motorcar Parts of America by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,133,796 shares of the auto parts company’s stock worth $12,540,000 after buying an additional 57,191 shares during the period. BlackRock Inc. purchased a new stake in Motorcar Parts of America during the second quarter worth approximately $16,152,000. Azarias Capital Management L.P. grew its stake in Motorcar Parts of America by 146.2% during the first quarter. Azarias Capital Management L.P. now owns 532,869 shares of the auto parts company’s stock worth $5,894,000 after buying an additional 316,461 shares during the period. Finally, RBF Capital LLC increased its position in shares of Motorcar Parts of America by 3.4% in the fourth quarter. RBF Capital LLC now owns 324,551 shares of the auto parts company’s stock worth $4,005,000 after acquiring an additional 10,530 shares in the last quarter. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

About Motorcar Parts of America

Motorcar Parts of America, Inc designs, manufactures, remanufactures and distributes automotive replacement parts for the aftermarket. Its product offerings primarily include rotating electrical components such as alternators and starters, along with brake-related products and other replacement parts used in passenger vehicles, light trucks and other applications.

The company sells products under several brand names, including Quality-Built, Pure Energy and DuraGo, and also supplies private-label products to automotive parts distributors and retailers.