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. “

Other research analysts have also issued reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $39.00 price target on shares of Motorcar Parts of America in a research note on Saturday, June 17th. BidaskClub lowered shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. TheStreet lowered shares of Motorcar Parts of America from a “b-” rating to a “c” rating in a research note on Monday, August 28th. FBR & Co reaffirmed an “outperform” rating and issued a $39.00 price target on shares of Motorcar Parts of America in a research note on Tuesday, July 18th. Finally, ValuEngine lowered shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $35.25.

Motorcar Parts of America (MPAA) traded down 0.95% during midday trading on Thursday, hitting $27.05. The company had a trading volume of 200,898 shares. The firm has a market capitalization of $504.08 million, a P/E ratio of 14.02 and a beta of 0.95. The company has a 50 day moving average price of $26.37 and a 200 day moving average price of $28.24. 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 issued its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. The firm had revenue of $95.06 million for the quarter, compared to analyst estimates of $93.60 million. Motorcar Parts of America had a net margin of 8.75% and a return on equity of 16.77%. Motorcar Parts of America’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. Equities research analysts forecast that Motorcar Parts of America will post $2.38 earnings per share for the current fiscal year.

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In other Motorcar Parts of America news, VP Douglas Earl Schooner sold 1,192 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 4,235 shares of the company’s stock, valued at approximately $120,993.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $82,470. The disclosure for this sale can be found here. Insiders sold a total of 9,531 shares of company stock worth $267,616 over the last three months. Corporate insiders own 4.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Credit Agricole S A purchased a new stake in shares of Motorcar Parts of America during the 1st quarter valued at approximately $317,000. Victory Capital Management Inc. purchased a new stake in shares of Motorcar Parts of America during the 1st quarter valued at approximately $106,000. BNP Paribas Arbitrage SA raised its position in shares of Motorcar Parts of America by 13.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,477 shares of the auto parts company’s stock valued at $107,000 after buying an additional 412 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Motorcar Parts of America by 46.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,547 shares of the auto parts company’s stock valued at $109,000 after buying an additional 1,124 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Motorcar Parts of America by 77.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,664 shares of the auto parts company’s stock valued at $103,000 after buying an additional 1,594 shares during the period.

About Motorcar Parts of America

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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