Analysts forecast that Motorcar Parts of America, Inc. (NASDAQ:MPAA) will report $124.26 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Motorcar Parts of America’s earnings. The highest sales estimate is $125.77 million and the lowest is $122.60 million. Motorcar Parts of America posted sales of $114.41 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The firm is scheduled to issue its next earnings report on Wednesday, June 13th.
According to Zacks, analysts expect that Motorcar Parts of America will report full-year sales of $124.26 million for the current fiscal year, with estimates ranging from $429.50 million to $437.10 million. For the next financial year, analysts expect that the company will post sales of $478.89 million per share, with estimates ranging from $468.70 million to $495.17 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Motorcar Parts of America.
Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings data on Friday, February 9th. The auto parts company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.15). Motorcar Parts of America had a net margin of 4.02% and a return on equity of 13.00%. The company had revenue of $100.10 million during the quarter, compared to analyst estimates of $113.46 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Motorcar Parts of America’s revenue for the quarter was down 11.1% on a year-over-year basis.
MPAA has been the topic of several research reports. BidaskClub upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a report on Friday, January 5th. Zacks Investment Research downgraded shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. TheStreet downgraded shares of Motorcar Parts of America from a “b-” rating to a “c” rating in a research note on Tuesday, December 5th. B. Riley restated a “buy” rating and issued a $39.00 price target on shares of Motorcar Parts of America in a research note on Monday, February 12th. Finally, ValuEngine downgraded shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $34.00.
In other news, CEO Joffe Selwyn acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $21.00 per share, with a total value of $105,000.00. Following the completion of the transaction, the chief executive officer now directly owns 140,271 shares of the company’s stock, valued at approximately $2,945,691. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 6,612 shares of company stock valued at $140,356 in the last ninety days. 4.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in Motorcar Parts of America by 44.5% during the third quarter. Victory Capital Management Inc. now owns 5,866 shares of the auto parts company’s stock worth $173,000 after purchasing an additional 1,806 shares during the period. MetLife Investment Advisors LLC bought a new stake in Motorcar Parts of America during the fourth quarter worth about $200,000. HBK Investments L P bought a new stake in Motorcar Parts of America during the fourth quarter worth about $240,000. Voya Investment Management LLC lifted its position in Motorcar Parts of America by 14.8% during the second quarter. Voya Investment Management LLC now owns 9,322 shares of the auto parts company’s stock worth $263,000 after purchasing an additional 1,204 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in Motorcar Parts of America by 71.3% during the third quarter. BNP Paribas Arbitrage SA now owns 9,385 shares of the auto parts company’s stock worth $276,000 after purchasing an additional 3,907 shares during the period.
Motorcar Parts of America (MPAA) opened at $23.38 on Friday. Motorcar Parts of America has a fifty-two week low of $20.11 and a fifty-two week high of $31.57. The company has a market cap of $433.17, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.74 and a quick ratio of 0.18.
Motorcar Parts of America announced that its board has authorized a stock buyback program on Friday, February 9th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
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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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