Motorcar Parts of America (MPAA) Upgraded at ValuEngine

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ValuEngine upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a strong sell rating to a sell rating in a research report released on Sunday morning.

A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of Motorcar Parts of America from a hold rating to a sell rating in a research note on Thursday, September 27th. Zacks Investment Research raised shares of Motorcar Parts of America from a strong sell rating to a hold rating in a research note on Thursday, August 16th. Finally, Roth Capital set a $25.00 price objective on shares of Motorcar Parts of America and gave the company a hold rating in a research note on Sunday, August 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $30.67.

Motorcar Parts of America stock opened at $21.67 on Friday. Motorcar Parts of America has a 1-year low of $18.09 and a 1-year high of $29.37. The firm has a market capitalization of $391.18 million, a price-to-earnings ratio of 12.75 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.48 and a current ratio of 1.46.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings data on Thursday, August 9th. The auto parts company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). Motorcar Parts of America had a net margin of 0.86% and a return on equity of 10.53%. The business had revenue of $92.57 million during the quarter, compared to the consensus estimate of $95.73 million. During the same period last year, the business posted $0.43 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Equities research analysts predict that Motorcar Parts of America will post 1.91 EPS for the current year.

In related news, Director Joseph Edwin Ferguson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $26.45, for a total transaction of $26,450.00. Following the transaction, the director now directly owns 3,742 shares of the company’s stock, valued at $98,975.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey P. Mirvis sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $25.32, for a total transaction of $316,500.00. The disclosure for this sale can be found here. Insiders sold 16,500 shares of company stock worth $422,120 over the last ninety days. Insiders own 4.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Motorcar Parts of America by 93.9% during the first quarter. Barclays PLC now owns 5,864 shares of the auto parts company’s stock valued at $125,000 after purchasing an additional 2,840 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Motorcar Parts of America by 3.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 99,059 shares of the auto parts company’s stock valued at $1,854,000 after purchasing an additional 3,207 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Motorcar Parts of America by 18.0% during the second quarter. First Trust Advisors LP now owns 21,616 shares of the auto parts company’s stock valued at $404,000 after purchasing an additional 3,295 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Motorcar Parts of America by 2.5% during 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 purchasing an additional 3,499 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in shares of Motorcar Parts of America by 1.6% during the second quarter. Foundry Partners LLC now owns 304,665 shares of the auto parts company’s stock valued at $5,700,000 after purchasing an additional 4,675 shares in the last quarter.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy duty trucks, and industrial and agricultural application 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, brake power boosters, and diagnostic equipment.

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