Motorcar Parts of America (MPAA) Given “Buy” Rating at B. Riley

Motorcar Parts of America (NASDAQ:MPAA)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley in a research note issued on Monday, Marketbeat.com reports. They presently have a $39.00 price target on the auto parts company’s stock. B. Riley’s target price suggests a potential upside of 81.82% from the company’s current price.

MPAA has been the subject of a number of other research reports. Zacks Investment Research cut Motorcar Parts of America from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. BidaskClub upgraded Motorcar Parts of America from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. ValuEngine cut Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, TheStreet cut Motorcar Parts of America from a “b-” rating to a “c” rating in a research report on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.00.

Shares of Motorcar Parts of America (NASDAQ MPAA) traded down $0.56 during mid-day trading on Monday, hitting $21.45. The stock had a trading volume of 500,991 shares, compared to its average volume of 188,601. Motorcar Parts of America has a twelve month low of $20.73 and a twelve month high of $31.57. The stock has a market capitalization of $409.04, a PE ratio of 24.66, a P/E/G ratio of 0.48 and a beta of 0.99. The company has a current ratio of 0.89, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings results on Friday, February 9th. The auto parts company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.15). Motorcar Parts of America had a net margin of 4.02% and a return on equity of 13.11%. The firm had revenue of $100.10 million during the quarter, compared to analysts’ expectations of $113.46 million. During the same quarter in the prior year, the business earned $0.60 EPS. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. analysts forecast that Motorcar Parts of America will post 2.01 EPS for the current year.

Motorcar Parts of America announced that its board has approved a share repurchase program on Friday, February 9th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

A number of institutional investors have recently bought and sold shares of MPAA. Victory Capital Management Inc. increased its position in Motorcar Parts of America by 44.5% during the 3rd quarter. Victory Capital Management Inc. now owns 5,866 shares of the auto parts company’s stock worth $173,000 after purchasing an additional 1,806 shares in the last quarter. Voya Investment Management LLC increased 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 purchasing an additional 1,204 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Motorcar Parts of America by 71.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,385 shares of the auto parts company’s stock worth $276,000 after purchasing an additional 3,907 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Motorcar Parts of America during the 2nd quarter worth about $292,000. Finally, Thrivent Financial For Lutherans increased its position in Motorcar Parts of America by 7.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 11,290 shares of the auto parts company’s stock worth $319,000 after purchasing an additional 820 shares in the last quarter.

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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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