Motorcar Parts of America (MPAA) Upgraded to “Hold” at BidaskClub

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other research firms have also issued reports on MPAA. Zacks Investment Research lowered Motorcar Parts of America from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, October 11th. TheStreet upgraded Motorcar Parts of America from a “c” rating to a “b-” rating in a research report on Monday, October 9th. B. Riley reiterated a “buy” rating on shares of Motorcar Parts of America in a research report on Wednesday, November 1st. Finally, ValuEngine lowered Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.50.

Motorcar Parts of America (MPAA) traded up $0.29 during trading hours on Friday, reaching $28.01. The company had a trading volume of 135,371 shares, compared to its average volume of 260,475. Motorcar Parts of America has a twelve month low of $23.92 and a twelve month high of $31.57. The firm has a market cap of $533.57, a price-to-earnings ratio of 15.65, a P/E/G ratio of 0.57 and a beta of 0.93. The company has a quick ratio of 0.29, a current ratio of 0.89 and a debt-to-equity ratio of 0.06.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings data on Thursday, November 9th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.06). Motorcar Parts of America had a net margin of 8.03% and a return on equity of 15.15%. The company had revenue of $111.77 million for the quarter, compared to analyst estimates of $112.83 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. sell-side analysts forecast that Motorcar Parts of America will post 2.09 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MPAA. Victory Capital Management Inc. boosted its position in Motorcar Parts of America by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,060 shares of the auto parts company’s stock worth $115,000 after acquiring an additional 608 shares during the period. Bank of Montreal Can boosted its position in Motorcar Parts of America by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 4,901 shares of the auto parts company’s stock worth $138,000 after acquiring an additional 68 shares during the period. BNP Paribas Arbitrage SA boosted its position in Motorcar Parts of America by 57.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,478 shares of the auto parts company’s stock worth $155,000 after acquiring an additional 2,001 shares during the period. Voya Investment Management LLC boosted its position in Motorcar Parts of America by 14.8% during the 2nd quarter. Voya Investment Management LLC now owns 9,322 shares of the auto parts company’s stock worth $263,000 after acquiring an additional 1,204 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Motorcar Parts of America during the 2nd quarter worth $292,000.

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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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