Equities analysts expect that Motorcar Parts of America Inc. (NASDAQ:MPAA) will post sales of $124.26 million for the current quarter, according to Zacks. Three analysts have issued estimates for Motorcar Parts of America’s earnings, with the highest sales estimate coming in at $125.77 million and the lowest estimate coming in at $122.60 million. Motorcar Parts of America posted sales of $114.41 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, June 13th.
On average, analysts expect that Motorcar Parts of America will report full year sales of $124.26 million for the current year, with estimates ranging from $429.50 million to $437.10 million. For the next year, analysts anticipate that the business will post sales of $478.89 million per share, with estimates ranging from $468.70 million to $495.17 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Motorcar Parts of America.
Motorcar Parts of America (NASDAQ:MPAA) last announced its earnings results on Friday, February 9th. The auto parts company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.15). The business had revenue of $100.10 million for the quarter, compared to the consensus estimate of $113.46 million. Motorcar Parts of America had a net margin of 4.02% and a return on equity of 13.00%. Motorcar Parts of America’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS.
In other news, CEO Joffe Selwyn bought 5,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $21.00 per share, for a total transaction of $105,000.00. Following the purchase, the chief executive officer now owns 140,271 shares in the company, valued at $2,945,691. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 6,612 shares of company stock worth $140,356 in the last quarter. Corporate insiders own 4.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new stake in Motorcar Parts of America in the 4th quarter worth $200,000. BNP Paribas Arbitrage SA increased its holdings in shares of Motorcar Parts of America by 71.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,385 shares of the auto parts company’s stock worth $276,000 after buying an additional 3,907 shares during the last quarter. HBK Investments L P bought a new stake in shares of Motorcar Parts of America in the 4th quarter worth about $240,000. Brandywine Global Investment Management LLC bought a new stake in shares of Motorcar Parts of America in the 4th quarter worth about $277,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Motorcar Parts of America in the 4th quarter worth about $288,000.
Shares of MPAA traded down $0.19 on Tuesday, hitting $21.91. 119,983 shares of the stock traded hands, compared to its average volume of 149,037. The company has a market capitalization of $417.91, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 0.37 and a beta of 1.16. The company has a quick ratio of 0.18, a current ratio of 0.74 and a debt-to-equity ratio of 0.05. Motorcar Parts of America has a one year low of $20.11 and a one year high of $31.57.
Motorcar Parts of America declared that its Board of Directors has authorized a stock buyback program on Friday, February 9th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
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Motorcar Parts of America Company Profile
Motorcar Parts of America, Inc manufactures, remanufactures, and distributes automotive aftermarket 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 and brake power boosters for import and domestic cars, light trucks, heavy duty, agricultural, and industrial applications.
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