Zacks: Brokerages Anticipate Motorcar Parts of America Inc. (MPAA) Will Announce Quarterly Sales of $124.26 Million

Brokerages expect that Motorcar Parts of America Inc. (NASDAQ:MPAA) will post sales of $124.26 million for the current quarter, Zacks reports. Three analysts have provided estimates for Motorcar Parts of America’s earnings, with estimates ranging from $122.60 million to $125.77 million. Motorcar Parts of America posted sales of $114.41 million during the same quarter last year, which suggests a positive year over year growth rate of 8.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, June 13th.

According to Zacks, analysts expect that Motorcar Parts of America will report full year sales of $433.30 million for the current financial year, with estimates ranging from $429.50 million to $437.10 million. For the next fiscal year, analysts anticipate that the firm will report sales of $478.89 million per share, with estimates ranging from $468.70 million to $495.17 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Motorcar Parts of America.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings results on Friday, February 9th. The auto parts company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.15). Motorcar Parts of America had a return on equity of 13.00% and a net margin of 4.02%. The business had revenue of $100.10 million for the quarter, compared to analyst estimates of $113.46 million. During the same period in the previous year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis.

Several equities research analysts have recently issued reports on MPAA shares. BidaskClub lowered shares of Motorcar Parts of America from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 26th. Roth Capital set a $26.00 price target on shares of Motorcar Parts of America and gave the company a “buy” rating in a research note on Monday, February 12th. ValuEngine lowered shares of Motorcar Parts of America from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Motorcar Parts of America has a consensus rating of “Hold” and a consensus price target of $34.00.

MPAA traded up $0.01 during midday trading on Monday, hitting $21.20. 2,996 shares of the company were exchanged, compared to its average volume of 140,373. The company has a market capitalization of $402.65 million, a P/E ratio of 9.50, a P/E/G ratio of 0.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.18 and a current ratio of 0.74. Motorcar Parts of America has a 1-year low of $21.07 and a 1-year high of $21.28.

Motorcar Parts of America announced that its board has approved a share buyback plan on Friday, February 9th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

In other Motorcar Parts of America news, CEO Joffe Selwyn acquired 5,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was bought at an average price of $21.00 per share, for a total transaction of $105,000.00. Following the acquisition, the chief executive officer now owns 140,271 shares in the company, valued at $2,945,691. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders acquired 6,612 shares of company stock valued at $140,356. 4.20% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. acquired a new stake in shares of Motorcar Parts of America during the 4th quarter worth approximately $288,000. Rhumbline Advisers increased its holdings in shares of Motorcar Parts of America by 18.3% during the 4th quarter. Rhumbline Advisers now owns 43,742 shares of the auto parts company’s stock worth $1,093,000 after buying an additional 6,777 shares during the last quarter. River Road Asset Management LLC increased its holdings in shares of Motorcar Parts of America by 4.6% during the 4th quarter. River Road Asset Management LLC now owns 944,797 shares of the auto parts company’s stock worth $23,610,000 after buying an additional 41,560 shares during the last quarter. Kennedy Capital Management Inc. increased its holdings in shares of Motorcar Parts of America by 9.4% during the 4th quarter. Kennedy Capital Management Inc. now owns 694,993 shares of the auto parts company’s stock worth $17,368,000 after buying an additional 59,767 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Motorcar Parts of America by 1,036.3% during the 4th quarter. Victory Capital Management Inc. now owns 66,653 shares of the auto parts company’s stock worth $1,666,000 after buying an additional 60,787 shares during the last quarter.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes automotive aftermarket 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 and brake power boosters for import and domestic cars, light trucks, heavy duty, agricultural, and industrial applications.

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Earnings History and Estimates for Motorcar Parts of America (NASDAQ:MPAA)

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