Motorcar Parts of America (MPAA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a strong sell rating to a hold rating in a report published on Wednesday.

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 equities analysts have also issued reports on the stock. BidaskClub upgraded shares of Motorcar Parts of America from a strong sell rating to a sell rating in a report on Saturday, December 16th. TheStreet lowered shares of Motorcar Parts of America from a b- rating to a c rating in a report on Tuesday, December 5th. ValuEngine lowered shares of Motorcar Parts of America from a buy rating to a hold rating in a report on Sunday, December 31st. Finally, B. Riley restated a buy rating on shares of Motorcar Parts of America in a report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $35.50.

Shares of Motorcar Parts of America (MPAA) traded up $0.05 during trading hours on Wednesday, hitting $28.14. 80,584 shares of the stock were exchanged, compared to its average volume of 160,244. The firm has a market capitalization of $537.57, a price-to-earnings ratio of 15.72, a PEG ratio of 0.58 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Motorcar Parts of America has a 52 week low of $23.92 and a 52 week high of $31.57.

Motorcar Parts of America (NASDAQ:MPAA) last released its earnings results on Thursday, November 9th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.06). The firm had revenue of $111.77 million during the quarter, compared to analyst estimates of $112.83 million. Motorcar Parts of America had a net margin of 8.03% and a return on equity of 15.15%. Motorcar Parts of America’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. research analysts anticipate that Motorcar Parts of America will post 2.09 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in Motorcar Parts of America by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,060 shares of the auto parts company’s stock valued at $115,000 after purchasing an additional 608 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Motorcar Parts of America by 57.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,478 shares of the auto parts company’s stock valued at $155,000 after purchasing an additional 2,001 shares in the last quarter. Voya Investment Management LLC increased its stake in Motorcar Parts of America by 14.8% in the second quarter. Voya Investment Management LLC now owns 9,322 shares of the auto parts company’s stock valued at $263,000 after purchasing an additional 1,204 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Motorcar Parts of America in the second quarter valued at $292,000. Finally, Thrivent Financial For Lutherans increased its stake in Motorcar Parts of America by 7.8% in the second quarter. Thrivent Financial For Lutherans now owns 11,290 shares of the auto parts company’s stock valued at $319,000 after purchasing an additional 820 shares in the last quarter.

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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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