Motorcar Parts of America (NASDAQ:MPAA) Downgraded to Hold at Zacks Investment Research


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Zacks Investment Research cut shares of Motorcar Parts of America (NASDAQ:MPAA) from a strong-buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Motorcar Parts of America, Inc. is a remanufacturer, manufacturer and distributor of automotive aftermarket parts — including alternators, starters, wheel bearing and hub assemblies, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications. In addition, the company designs and manufactures test equipment for performance, endurance and production testing of alternators, starters, electric motors, inverters and belt starter generators for both the OE and aftermarket. Motorcar Parts of America’s products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada, with facilities located in California, Mexico, Malaysia and China, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia and Canada. Motorcar Parts of America, Inc. is headquartered in Torrance, CA. “

Several other research analysts have also recently weighed in on MPAA. BidaskClub cut Motorcar Parts of America from a buy rating to a hold rating in a research report on Friday, December 18th. ValuEngine cut Motorcar Parts of America from a hold rating to a sell rating in a research report on Wednesday, November 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $21.00.

Shares of Motorcar Parts of America stock opened at $20.38 on Wednesday. The stock has a fifty day simple moving average of $21.20 and a 200 day simple moving average of $17.96. Motorcar Parts of America has a 12-month low of $10.43 and a 12-month high of $24.97. The company has a market capitalization of $388.24 million, a P/E ratio of 135.87 and a beta of 1.90. The company has a current ratio of 1.31, a quick ratio of 0.52 and a debt-to-equity ratio of 0.06.

Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings results on Saturday, November 14th. The auto parts company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.27. Motorcar Parts of America had a return on equity of 10.44% and a net margin of 0.59%. The business had revenue of $154.73 million during the quarter, compared to the consensus estimate of $146.90 million. On average, analysts predict that Motorcar Parts of America will post 1.8 EPS for the current year.

In other news, Director Rudolph J. Borneo sold 2,171 shares of the stock in a transaction dated Wednesday, December 23rd. The stock was sold at an average price of $20.91, for a total transaction of $45,395.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in MPAA. Public Sector Pension Investment Board increased its holdings in shares of Motorcar Parts of America by 25.5% in the third quarter. Public Sector Pension Investment Board now owns 53,337 shares of the auto parts company’s stock worth $830,000 after purchasing an additional 10,822 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Motorcar Parts of America by 343.9% in the third quarter. BNP Paribas Arbitrage SA now owns 5,012 shares of the auto parts company’s stock worth $78,000 after purchasing an additional 3,883 shares during the last quarter. Tudor Investment Corp Et Al bought a new stake in shares of Motorcar Parts of America in the second quarter worth about $377,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Motorcar Parts of America by 6.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 123,279 shares of the auto parts company’s stock worth $2,179,000 after purchasing an additional 7,972 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Motorcar Parts of America by 8.8% in the second quarter. Vanguard Group Inc. now owns 1,368,466 shares of the auto parts company’s stock worth $24,181,000 after purchasing an additional 110,233 shares during the last quarter. Hedge funds and other institutional investors own 88.15% of the company’s stock.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake-related products comprising brake calipers, brake boosters, and brake master cylinders; and diagnostics and other products, which consist of diagnostics systems and advanced power emulators that are used for development of electric vehicles and aerospace applications, as well as power electronic products for the development and production of electric vehicles and turbochargers.

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