Roth Capital Analysts Give Motorcar Parts of America (MPAA) a $26.00 Price Target

Motorcar Parts of America (NASDAQ:MPAA) has been assigned a $26.00 price objective by investment analysts at Roth Capital in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the auto parts company’s stock. Roth Capital’s price target indicates a potential upside of 18.13% from the stock’s current price.

Several other research firms have also recently issued reports on MPAA. Zacks Investment Research upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. ValuEngine cut shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. BidaskClub upgraded shares of Motorcar Parts of America from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 16th. B. Riley reiterated a “buy” rating on shares of Motorcar Parts of America in a research note on Wednesday, November 1st. Finally, TheStreet cut shares of Motorcar Parts of America from a “b-” rating to a “c” rating in a research note on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Motorcar Parts of America has a consensus rating of “Hold” and a consensus price target of $34.00.

Shares of Motorcar Parts of America (NASDAQ MPAA) traded down $2.50 during midday trading on Monday, reaching $22.01. 1,363,600 shares of the company’s stock traded hands, compared to its average volume of 190,310. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.89. Motorcar Parts of America has a twelve month low of $20.74 and a twelve month high of $31.57. The firm has a market cap of $419.82, a PE ratio of 25.59, a price-to-earnings-growth ratio of 0.48 and a beta of 0.99.

Motorcar Parts of America (NASDAQ:MPAA) last posted its earnings results on Friday, February 9th. The auto parts company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $113.46 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. sell-side analysts forecast that Motorcar Parts of America will post 2.01 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in Motorcar Parts of America by 44.5% in the 3rd quarter. Victory Capital Management Inc. now owns 5,866 shares of the auto parts company’s stock worth $173,000 after acquiring an additional 1,806 shares in the last quarter. Voya Investment Management LLC increased its holdings in Motorcar Parts of America by 14.8% in 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 in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Motorcar Parts of America by 71.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,385 shares of the auto parts company’s stock worth $276,000 after acquiring an additional 3,907 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Motorcar Parts of America in the 2nd quarter worth $292,000. Finally, Thrivent Financial For Lutherans increased its holdings in Motorcar Parts of America by 7.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 11,290 shares of the auto parts company’s stock worth $319,000 after acquiring 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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