Motorcar Parts of America, Inc. (NASDAQ:MPAA) – Analysts at B. Riley dropped their FY2018 earnings per share estimates for Motorcar Parts of America in a research note issued to investors on Monday. B. Riley analyst C. Horn now forecasts that the auto parts company will post earnings per share of $1.80 for the year, down from their prior estimate of $2.10. B. Riley has a “Buy” rating and a $39.00 price objective on the stock. B. Riley also issued estimates for Motorcar Parts of America’s Q4 2018 earnings at $0.67 EPS, Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.80 EPS and FY2019 earnings at $2.54 EPS.
Other equities analysts have also issued reports about the stock. Roth Capital set a $26.00 price objective on shares of Motorcar Parts of America and gave the company a “buy” rating in a report on Monday. TheStreet lowered shares of Motorcar Parts of America from a “b-” rating to a “c” rating in a report on Tuesday, December 5th. Zacks Investment Research upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. ValuEngine lowered shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BidaskClub upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $34.00.
Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings data on Friday, February 9th. The auto parts company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ 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 13.00%. The business 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 company earned $0.60 earnings per share. The company’s quarterly revenue was down 11.1% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of MPAA. Victory Capital Management Inc. raised its holdings in shares of Motorcar Parts of America by 44.5% during the third 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 during the period. Voya Investment Management LLC raised its holdings in shares of Motorcar Parts of America by 14.8% during the second 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. BNP Paribas Arbitrage SA raised its holdings in shares of Motorcar Parts of America by 71.3% during the third 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 during the period. HBK Investments L P acquired a new stake in shares of Motorcar Parts of America during the fourth quarter worth $240,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Motorcar Parts of America during the second quarter worth $292,000.
In other news, CEO Joffe Selwyn bought 5,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $21.00 per share, for a total transaction of $105,000.00. Following the completion of the acquisition, the chief executive officer now owns 140,271 shares in the company, valued at approximately $2,945,691. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.
Motorcar Parts of America announced that its Board of Directors has approved a share repurchase program on Friday, February 9th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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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