Motorcar Parts of America, Inc. (NASDAQ:MPAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $29.00 target price on the auto parts company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.39% from the company’s current price.

According to Zacks, “Mototcar Parts & Accessories Inc. is a leading manufacturer of replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. The company’s full line of alternators and starters are remanufactured for vehicles imported from Japan, Germany, Sweden, France and Korea. The imported vehicles for which the company remanufactures alternators and starters also include vehicles produced by GM, Chrysler and Ford. The company also assembles and distributes ignition wire sets for imported and domestic cars and light trucks. “

A number of other equities analysts have also recently weighed in on MPAA. ValuEngine cut shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. B. Riley reaffirmed a “buy” rating and set a $39.00 price objective on shares of Motorcar Parts of America in a research report on Monday, June 12th. Roth Capital set a $31.00 price objective on shares of Motorcar Parts of America and gave the stock a “buy” rating in a research report on Tuesday, June 13th. BidaskClub cut shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Motorcar Parts of America in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.75.

Shares of Motorcar Parts of America (NASDAQ MPAA) opened at 26.27 on Wednesday. Motorcar Parts of America has a 1-year low of $21.75 and a 1-year high of $31.57. The stock’s 50 day moving average is $26.80 and its 200 day moving average is $28.38. The company has a market cap of $489.54 million, a P/E ratio of 13.61 and a beta of 0.94.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings data on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.04. The firm had revenue of $95.06 million during the quarter, compared to analysts’ expectations of $93.60 million. Motorcar Parts of America had a net margin of 8.75% and a return on equity of 16.77%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. On average, analysts predict that Motorcar Parts of America will post $2.38 earnings per share for the current year.

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In other Motorcar Parts of America news, VP Douglas Earl Schooner sold 1,192 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $28.57, for a total transaction of $34,055.44. Following the sale, the vice president now directly owns 4,235 shares in the company, valued at approximately $120,993.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rudolph J. Borneo sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $27.49, for a total transaction of $82,470.00. Following the sale, the director now owns 3,000 shares in the company, valued at $82,470. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,531 shares of company stock worth $267,616. 4.40% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in Motorcar Parts of America by 77.0% in the second quarter. State of Alaska Department of Revenue now owns 3,664 shares of the auto parts company’s stock worth $103,000 after buying an additional 1,594 shares during the period. Victory Capital Management Inc. acquired a new stake in Motorcar Parts of America during the first quarter worth about $106,000. BNP Paribas Arbitrage SA raised its stake in Motorcar Parts of America by 13.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,477 shares of the auto parts company’s stock worth $107,000 after buying an additional 412 shares during the period. Envestnet Asset Management Inc. raised its stake in Motorcar Parts of America by 46.4% in the first quarter. Envestnet Asset Management Inc. now owns 3,547 shares of the auto parts company’s stock worth $109,000 after buying an additional 1,124 shares during the period. Finally, Mason Street Advisors LLC raised its stake in Motorcar Parts of America by 7.2% in the first quarter. Mason Street Advisors LLC now owns 4,371 shares of the auto parts company’s stock worth $134,000 after buying an additional 292 shares during the period.

About Motorcar Parts of America

Motorcar Parts of America, Inc is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications.

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