Motorcar Parts of America, Inc. (NASDAQ:MPAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $30.00 target price on the auto parts company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.16% from the company’s previous close.

According to Zacks, “Mototcar Parts & Accessories Inc. is a leading manufacturer of replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. The company’s full line of alternators and starters are remanufactured for vehicles imported from Japan, Germany, Sweden, France and Korea. The imported vehicles for which the company remanufactures alternators and starters also include vehicles produced by GM, Chrysler and Ford. The company also assembles and distributes ignition wire sets for imported and domestic cars and light trucks. “

MPAA has been the subject of a number of other reports. ValuEngine cut Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Motorcar Parts of America from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. B. Riley reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a research report on Saturday, June 17th. FBR & Co reaffirmed an “outperform” rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a research report on Tuesday, July 18th. Finally, Roth Capital set a $31.00 price objective on Motorcar Parts of America and gave the company a “buy” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $35.00.

Shares of Motorcar Parts of America (MPAA) traded down 0.64% on Friday, reaching $26.28. The company’s stock had a trading volume of 73,699 shares. Motorcar Parts of America has a 1-year low of $21.75 and a 1-year high of $31.57. The company’s 50 day moving average is $26.53 and its 200-day moving average is $28.32. The firm has a market cap of $489.73 million, a price-to-earnings ratio of 13.62 and a beta of 0.95.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. Motorcar Parts of America had a return on equity of 16.77% and a net margin of 8.75%. The firm had revenue of $95.06 million during the quarter, compared to analysts’ expectations of $93.60 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts expect that Motorcar Parts of America will post $2.38 EPS for the current year.

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In other Motorcar Parts of America news, Director Rudolph J. Borneo sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $27.49, for a total transaction of $82,470.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $82,470. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Douglas Earl Schooner sold 4,834 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $28.27, for a total value of $136,657.18. Following the transaction, the vice president now owns 10,261 shares in the company, valued at approximately $290,078.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,531 shares of company stock valued at $267,616. Insiders own 4.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MPAA. Royal Bank of Canada increased its stake in Motorcar Parts of America by 533.9% during the 2nd quarter. Royal Bank of Canada now owns 835,139 shares of the auto parts company’s stock worth $23,584,000 after acquiring an additional 703,390 shares during the period. Ashford Capital Management Inc. bought a new position in Motorcar Parts of America during the 2nd quarter worth $11,330,000. Vanguard Group Inc. increased its stake in Motorcar Parts of America by 24.2% during the 1st quarter. Vanguard Group Inc. now owns 993,275 shares of the auto parts company’s stock worth $30,523,000 after acquiring an additional 193,579 shares during the period. Northpointe Capital LLC increased its stake in Motorcar Parts of America by 268.7% during the 2nd quarter. Northpointe Capital LLC now owns 254,344 shares of the auto parts company’s stock worth $7,183,000 after acquiring an additional 185,363 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in Motorcar Parts of America during the 1st quarter worth $4,291,000.

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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