Motorcar Parts of America Trading Up 6.6% on Earnings Beat (MPAA)
Motorcar Parts of America (NASDAQ:MPAA) shares were up 6.6% during trading on Monday after the company announced better than expected quarterly earnings, AnalystRatings.Net reports. The stock traded as high as $25.73 and last traded at $25.35, with a volume of 289,162 shares. The stock had previously closed at $23.79.
The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.05. The company had revenue of $63.00 million for the quarter, compared to the consensus estimate of $60.84 million.
A number of research firms have recently commented on MPAA. Analysts at TheStreet upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a research note on Wednesday, June 18th. Analysts at B. Riley cut their price target on shares of Motorcar Parts of America from $34.00 to $28.00 in a research note on Friday, June 13th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.33.
The stock’s 50-day moving average is $23.89 and its 200-day moving average is $24.49. The company has a market cap of $392.3 million and a P/E ratio of 3.40.
Motorcar Parts of America, Inc (NASDAQ:MPAA) is a manufactures, remanufactures and distributes new and remanufactured steering components, brake calipers, master cylinders, hub assembly and bearings, and clutches and clutch hydraulics for virtually all passenger and truck vehicles.
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