Motorcar Parts of America (MPAA) Stock Rating Upgraded by Zacks Investment Research

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors 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 analysts also recently commented on the company. BidaskClub raised Motorcar Parts of America from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. ValuEngine downgraded Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. TheStreet downgraded Motorcar Parts of America from a “b-” rating to a “c” rating in a research note on Tuesday, December 5th. Finally, B. Riley reissued a “buy” rating on shares of Motorcar Parts of America in a research note on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.50.

Shares of Motorcar Parts of America (MPAA) opened at $27.92 on Wednesday. The company has a market capitalization of $536.81, a P/E ratio of 15.60, a PEG ratio of 0.59 and a beta of 0.93. Motorcar Parts of America has a 52 week low of $23.92 and a 52 week high of $31.57. The company has a quick ratio of 0.29, a current ratio of 0.89 and a debt-to-equity ratio of 0.06.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings data on Thursday, November 9th. The auto parts company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.06). The company had revenue of $111.77 million during the quarter, compared to analysts’ expectations of $112.83 million. Motorcar Parts of America had a return on equity of 15.15% and a net margin of 8.03%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. equities research analysts predict that Motorcar Parts of America will post 2.09 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Fine Capital Partners L.P. grew its holdings in shares of Motorcar Parts of America by 2.0% in the third quarter. Fine Capital Partners L.P. now owns 1,810,626 shares of the auto parts company’s stock valued at $53,341,000 after acquiring an additional 35,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Motorcar Parts of America by 8.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,171,965 shares of the auto parts company’s stock valued at $34,526,000 after acquiring an additional 94,985 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Motorcar Parts of America by 1.2% in the second quarter. Vanguard Group Inc. now owns 1,005,058 shares of the auto parts company’s stock valued at $28,383,000 after acquiring an additional 11,783 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Motorcar Parts of America by 533.9% in the second quarter. Royal Bank of Canada now owns 835,139 shares of the auto parts company’s stock valued at $23,584,000 after acquiring an additional 703,390 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Motorcar Parts of America by 4.4% in the second quarter. State Street Corp now owns 429,157 shares of the auto parts company’s stock valued at $12,117,000 after acquiring an additional 18,153 shares in the last quarter.

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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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