Motorcar Parts of America (NASDAQ:MPAA) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.

MPAA has been the subject of a number of other research reports. ValuEngine lowered shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. B. Riley restated a “buy” rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a research report on Monday, February 12th. Zacks Investment Research lowered shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Finally, Roth Capital set a $26.00 price objective on shares of Motorcar Parts of America and gave the company a “buy” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.00.

Motorcar Parts of America traded down $0.06, reaching $21.34, on Friday, Marketbeat reports. 4,875 shares of the company’s stock were exchanged, compared to its average volume of 171,912. The company has a quick ratio of 0.18, a current ratio of 0.74 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $408.75 million, a PE ratio of 9.57, a P/E/G ratio of 0.36 and a beta of 1.19. Motorcar Parts of America has a 52 week low of $18.53 and a 52 week high of $30.67.

Motorcar Parts of America declared that its board has approved a share repurchase plan on Friday, February 9th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the auto parts company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Motorcar Parts of America by 2.5% in the first quarter. Principal Financial Group Inc. now owns 146,199 shares of the auto parts company’s stock valued at $3,133,000 after acquiring an additional 3,499 shares during the period. Royal Bank of Canada boosted its position in shares of Motorcar Parts of America by 6.7% in the first quarter. Royal Bank of Canada now owns 1,026,189 shares of the auto parts company’s stock valued at $21,992,000 after acquiring an additional 64,607 shares during the period. Foundry Partners LLC boosted its position in shares of Motorcar Parts of America by 17.9% in the first quarter. Foundry Partners LLC now owns 299,990 shares of the auto parts company’s stock valued at $6,429,000 after acquiring an additional 45,475 shares during the period. Voce Capital Management LLC boosted its position in shares of Motorcar Parts of America by 93.9% in the first quarter. Voce Capital Management LLC now owns 186,764 shares of the auto parts company’s stock valued at $4,002,000 after acquiring an additional 90,421 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Motorcar Parts of America in the first quarter valued at approximately $473,000.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes automotive aftermarket 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 and brake power boosters for import and domestic cars, light trucks, heavy duty, agricultural, and industrial applications.

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