Motorcar Parts of America, Inc. (NASDAQ:MPAA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. BidaskClub cut Motorcar Parts of America from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. B. Riley reissued a “buy” rating and issued a $39.00 price target on shares of Motorcar Parts of America in a report on Monday, June 12th. TheStreet cut Motorcar Parts of America from a “b-” rating to a “c” rating in a report on Monday, August 28th. Roth Capital set a $32.00 price target on Motorcar Parts of America and gave the stock a “buy” rating in a report on Sunday, August 20th. Finally, FBR & Co reissued an “outperform” rating and issued a $39.00 price target on shares of Motorcar Parts of America in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Motorcar Parts of America currently has a consensus rating of “Buy” and a consensus target price of $35.00.

Shares of Motorcar Parts of America (NASDAQ:MPAA) traded down 0.64% during midday trading on Thursday, hitting $26.28. 73,699 shares of the company traded hands. The stock’s 50-day moving average is $26.53 and its 200 day moving average is $28.32. The stock has a market capitalization of $489.73 million, a P/E ratio of 13.62 and a beta of 0.95. Motorcar Parts of America has a 12-month low of $21.75 and a 12-month high of $31.57.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $95.06 million during the quarter, compared to analysts’ expectations of $93.60 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts expect that Motorcar Parts of America will post $2.38 earnings per share for the current year.

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In related news, Director Rudolph J. Borneo sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $27.49, for a total value of $82,470.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $82,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Douglas Earl Schooner sold 1,192 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $28.57, for a total value of $34,055.44. Following the completion of the transaction, the vice president now owns 4,235 shares of the company’s stock, valued at $120,993.95. The disclosure for this sale can be found here. Over the last three months, 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 added to or reduced their stakes in MPAA. State of Alaska Department of Revenue increased its stake in Motorcar Parts of America by 77.0% in the second quarter. State of Alaska Department of Revenue now owns 3,664 shares of the auto parts company’s stock valued at $103,000 after purchasing an additional 1,594 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Motorcar Parts of America in the first quarter valued at $106,000. BNP Paribas Arbitrage SA increased its stake in Motorcar Parts of America by 13.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,477 shares of the auto parts company’s stock valued at $107,000 after purchasing an additional 412 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Motorcar Parts of America by 46.4% in the first quarter. Envestnet Asset Management Inc. now owns 3,547 shares of the auto parts company’s stock valued at $109,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Mason Street Advisors LLC increased its stake in Motorcar Parts of America by 7.2% in the first quarter. Mason Street Advisors LLC now owns 4,371 shares of the auto parts company’s stock valued at $134,000 after purchasing an additional 292 shares during the last quarter.

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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