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

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

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

Motorcar Parts of America Price Performance

Motorcar Parts of America stock opened at $10.59 on Monday. The company’s 50 day simple moving average is $11.38 and its 200-day simple moving average is $12.18. The company has a market capitalization of $200.47 million, a price-to-earnings ratio of -34.16 and a beta of 1.19. Motorcar Parts of America has a 1 year low of $9.29 and a 1 year high of $18.12. 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 posted its quarterly earnings data on Monday, August 10th. The auto parts company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.91). Motorcar Parts of America had a negative return on equity of 0.57% and a negative net margin of 0.53%. The company had revenue of $168.02 million for the quarter, compared to analysts’ expectations of $183.00 million. As a group, equities research analysts expect that Motorcar Parts of America will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Motorcar Parts of America

Several institutional investors have recently modified their holdings of MPAA. State of Wyoming purchased a new position in Motorcar Parts of America in the second quarter valued at $74,000. Deutsche Bank AG purchased a new stake in Motorcar Parts of America during the 2nd quarter worth about $196,000. Bank of America Corp DE purchased a new stake in Motorcar Parts of America during the 2nd quarter worth about $409,000. Sei Investments Co. purchased a new stake in Motorcar Parts of America during the 1st quarter worth about $311,000. Finally, Allspring Global Investments Holdings LLC raised its position in Motorcar Parts of America by 12.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,523 shares of the auto parts company’s stock valued at $426,000 after purchasing an additional 4,347 shares in the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

Motorcar Parts of America Company Profile

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.