Motorcar Parts of America, Inc. (MPAA) Receives Average Rating of “Hold” from Brokerages

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Shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) have been assigned an average rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $32.00.

A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Motorcar Parts of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. ValuEngine upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a report on Monday, August 20th. Zacks Investment Research upgraded shares of Motorcar Parts of America from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Thursday, September 13th. Roth Capital set a $25.00 price objective on shares of Motorcar Parts of America and gave the company a “hold” rating in a report on Sunday, August 12th. Finally, CL King cut shares of Motorcar Parts of America from a “buy” rating to a “neutral” rating in a report on Friday.

NASDAQ MPAA traded down $4.59 during trading on Monday, reaching $17.20. 2,204,849 shares of the stock traded hands, compared to its average volume of 180,335. The stock has a market cap of $412.37 million, a P/E ratio of 10.11 and a beta of 1.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.48 and a current ratio of 1.46. Motorcar Parts of America has a fifty-two week low of $12.09 and a fifty-two week high of $28.98.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings data on Thursday, August 9th. The auto parts company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.06). The firm had revenue of $92.57 million for the quarter, compared to analyst estimates of $95.73 million. Motorcar Parts of America had a net margin of 0.86% and a return on equity of 10.53%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. Analysts predict that Motorcar Parts of America will post 1.91 earnings per share for the current fiscal year.

In other news, Director Joseph Edwin Ferguson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $26.45, for a total value of $26,450.00. Following the completion of the transaction, the director now owns 3,742 shares in the company, valued at $98,975.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey P. Mirvis sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $25.32, for a total transaction of $316,500.00. The disclosure for this sale can be found here. Insiders sold 16,500 shares of company stock valued at $422,120 in the last quarter. Corporate insiders own 4.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of Motorcar Parts of America by 1.3% in the third quarter. Wells Fargo & Company MN now owns 210,304 shares of the auto parts company’s stock valued at $4,932,000 after buying an additional 2,634 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Motorcar Parts of America by 3.7% in the third quarter. Victory Capital Management Inc. now owns 75,100 shares of the auto parts company’s stock valued at $1,761,000 after buying an additional 2,700 shares during the period. Barclays PLC boosted its holdings in shares of Motorcar Parts of America by 93.9% in the first quarter. Barclays PLC now owns 5,864 shares of the auto parts company’s stock valued at $125,000 after buying an additional 2,840 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Motorcar Parts of America by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 99,059 shares of the auto parts company’s stock valued at $1,854,000 after buying an additional 3,207 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Motorcar Parts of America by 18.0% in the second quarter. First Trust Advisors LP now owns 21,616 shares of the auto parts company’s stock valued at $404,000 after buying an additional 3,295 shares during the period.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy duty trucks, and industrial and agricultural application 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, brake power boosters, and diagnostic equipment.

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