Motorcar Parts of America, Inc. (NASDAQ:MPAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm currently has a $31.00 price target on the auto parts company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.60% from the stock’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. “

Several other research analysts have also recently commented on MPAA. ValuEngine cut shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. B. Riley reiterated a “buy” rating and issued a $39.00 target price on shares of Motorcar Parts of America in a report on Monday, June 12th. Roth Capital set a $31.00 target price on shares of Motorcar Parts of America and gave the stock a “buy” rating in a report on Tuesday, June 13th. BidaskClub cut shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, FBR & Co reiterated an “outperform” rating and issued a $39.00 target price on shares of Motorcar Parts of America in a report on Tuesday, July 18th. One investment 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. Motorcar Parts of America has an average rating of “Buy” and an average target price of $35.25.

Shares of Motorcar Parts of America (MPAA) traded down 0.95% during mid-day trading on Friday, hitting $27.05. 200,898 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $26.37 and a 200-day moving average price of $28.24. The stock has a market cap of $504.08 million, a P/E ratio of 14.02 and a beta of 0.95. Motorcar Parts of America has a 1-year low of $21.75 and a 1-year high of $31.57.

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

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In other Motorcar Parts of America news, VP Douglas Earl Schooner sold 4,834 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $28.27, for a total value of $136,657.18. Following the completion of the transaction, the vice president now directly owns 10,261 shares in the company, valued at $290,078.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rudolph J. Borneo sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 3,000 shares of the company’s stock, valued at $82,470. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,531 shares of company stock valued at $267,616. Corporate insiders own 4.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of MPAA. State of Alaska Department of Revenue boosted its holdings in shares of Motorcar Parts of America by 77.0% during the second quarter. State of Alaska Department of Revenue now owns 3,664 shares of the auto parts company’s stock worth $103,000 after purchasing an additional 1,594 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Motorcar Parts of America during the first quarter worth approximately $106,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Motorcar Parts of America by 13.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,477 shares of the auto parts company’s stock worth $107,000 after purchasing an additional 412 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Motorcar Parts of America by 46.4% during the first quarter. Envestnet Asset Management Inc. now owns 3,547 shares of the auto parts company’s stock worth $109,000 after purchasing an additional 1,124 shares during the period. Finally, Mason Street Advisors LLC boosted its holdings in shares of Motorcar Parts of America by 7.2% during the first quarter. Mason Street Advisors LLC now owns 4,371 shares of the auto parts company’s stock worth $134,000 after purchasing an additional 292 shares during the period.

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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