Motorcar Parts of America (MPAA) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a hold rating to a buy rating in a research note released on Thursday. They currently have $28.00 price target on the auto parts company’s stock.

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. “

Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Motorcar Parts of America from a hold rating to a buy rating in a research note on Wednesday, August 22nd. ValuEngine upgraded shares of Motorcar Parts of America from a sell rating to a hold rating in a research note on Monday, August 20th. Finally, Roth Capital set a $25.00 price target on shares of Motorcar Parts of America and gave the stock a hold rating in a research note on Sunday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Motorcar Parts of America currently has an average rating of Hold and a consensus target price of $30.67.

Shares of Motorcar Parts of America stock opened at $25.59 on Thursday. Motorcar Parts of America has a 52-week low of $18.09 and a 52-week high of $30.16. The company has a quick ratio of 0.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $471.20 million, a P/E ratio of 15.05, a PEG ratio of 0.52 and a beta of 1.82.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings results on Thursday, August 9th. The auto parts company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). Motorcar Parts of America had a return on equity of 10.53% and a net margin of 0.86%. The firm had revenue of $92.57 million during the quarter, compared to analysts’ expectations of $95.73 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. equities research analysts anticipate that Motorcar Parts of America will post 1.91 EPS for the current fiscal year.

In other news, Director Rudolph J. Borneo sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $26.39, for a total transaction of $79,170.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $79,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Edwin Ferguson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $26.45, for a total transaction of $26,450.00. Following the sale, the director now owns 3,742 shares of the company’s stock, valued at approximately $98,975.90. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Global Alpha Capital Management Ltd. increased its holdings in shares of Motorcar Parts of America by 34.8% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 516,898 shares of the auto parts company’s stock valued at $11,077,000 after acquiring an additional 133,400 shares during the period. Voce Capital Management LLC increased its holdings in shares of Motorcar Parts of America by 93.9% in the 1st 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. Royal Bank of Canada increased its holdings in shares of Motorcar Parts of America by 6.7% in the 1st 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. Principal Financial Group Inc. increased its holdings in shares of Motorcar Parts of America by 2.5% in the 1st 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. Finally, Heartland Advisors Inc. acquired a new position in shares of Motorcar Parts of America in the 2nd quarter valued at $5,145,000.

Motorcar Parts of America Company Profile

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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