Motorcar Parts of America, Inc. (MPAA) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) from a hold rating to a buy rating in a report published on Saturday morning. Zacks Investment Research currently has $31.00 price target on the auto parts company’s stock.
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 research analysts have also commented on the company. ValuEngine lowered Motorcar Parts of America from a buy rating to a hold rating in a research report on Friday, September 1st. TheStreet lowered Motorcar Parts of America from a b- rating to a c rating in a research report on Monday, August 28th. Roth Capital set a $32.00 price target on Motorcar Parts of America and gave the company a buy rating in a research report on Sunday, August 20th. BidaskClub lowered Motorcar Parts of America from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. Finally, FBR & Co reissued an outperform rating and issued a $39.00 price target on shares of Motorcar Parts of America in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $35.25.
Motorcar Parts of America (MPAA) opened at 27.59 on Friday. The company has a market capitalization of $514.14 million, a PE ratio of 14.30 and a beta of 0.95. Motorcar Parts of America has a 52 week low of $21.75 and a 52 week high of $31.57. The stock’s 50 day moving average is $26.34 and its 200 day moving average is $28.22.
Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $95.06 million during the quarter, compared to analyst estimates of $93.60 million. Motorcar Parts of America had a return on equity of 16.77% and a net margin of 8.75%. Motorcar Parts of America’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. Analysts predict that Motorcar Parts of America will post $2.38 EPS for the current fiscal year.
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In other Motorcar Parts of America news, VP Douglas Earl Schooner sold 1,192 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $28.57, for a total value of $34,055.44. Following the completion of the transaction, the vice president now owns 4,235 shares in the company, valued at approximately $120,993.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 6,531 shares of company stock valued at $185,146 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.
Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its stake in Motorcar Parts of America by 77.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,664 shares of the auto parts company’s stock valued at $103,000 after purchasing an additional 1,594 shares during the period. Victory Capital Management Inc. bought a new position in shares of Motorcar Parts of America during the 1st quarter worth $106,000. BNP Paribas Arbitrage SA grew its stake in shares of Motorcar Parts of America by 13.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,477 shares of the auto parts company’s stock worth $107,000 after acquiring an additional 412 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Motorcar Parts of America by 46.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,547 shares of the auto parts company’s stock worth $109,000 after acquiring an additional 1,124 shares during the period. Finally, Mason Street Advisors LLC grew its stake in shares of Motorcar Parts of America by 7.2% during the 1st quarter. Mason Street Advisors LLC now owns 4,371 shares of the auto parts company’s stock worth $134,000 after acquiring an additional 292 shares during the period.
Motorcar Parts of America Company Profile
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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