Motorcar Parts of America Director Unloads $322,800 in Stock (MPAA)
Motorcar Parts of America (NASDAQ:MPAA) Director Mel Marks sold 26,900 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $12.00, for a total value of $322,800.00. Following the completion of the transaction, the director now directly owns 26,090 shares in the company, valued at approximately $313,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on MPAA shares. Analysts at Craig Hallum initiated coverage on shares of Motorcar Parts of America (NASDAQ:MPAA) in a research note to investors on Monday. They set a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, August 20th. They now have a $10.10 price target on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a “sell” rating to a “hold” rating in a research note to investors on Monday, July 8th.
One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Motorcar Parts of America currently has an average rating of “Buy” and a consensus price target of $11.45.
Shares of Motorcar Parts of America (NASDAQ:MPAA) traded up 3.56% during mid-day trading on Tuesday, hitting $12.22. The stock had a trading volume of 350,489 shares. Motorcar Parts of America has a 52-week low of $4.22 and a 52-week high of $12.05. The stock has a 50-day moving average of $9.66 and a 200-day moving average of $7.78. The company has a market cap of $176.7 million and a P/E ratio of 8.83.
Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.07. The company had revenue of $50.20 million for the quarter, compared to the consensus estimate of $49.37 million. During the same quarter last year, the company posted ($0.32) earnings per share. On average, analysts predict that Motorcar Parts of America will post $1.17 earnings per share for the current fiscal year.
Motorcar Parts of America, Inc (NASDAQ:MPAA) remanufactures alternators and starters for import and domestic cars, light trucks, heavy duty, agricultural and industrial applications.
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