Motorcar Parts of America (NASDAQ:MPAA) released its earnings results on Monday. The auto parts company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.03), MarketWatch Earnings reports. Motorcar Parts of America had a net margin of 0.20% and a return on equity of 10.81%. The company had revenue of $124.10 million during the quarter, compared to the consensus estimate of $115.98 million. During the same quarter in the previous year, the business posted $0.34 EPS. The firm’s quarterly revenue was up 20.6% on a year-over-year basis.
MPAA traded down $1.53 during midday trading on Monday, reaching $18.48. 5,943 shares of the company’s stock were exchanged, compared to its average volume of 148,085. The stock has a market cap of $376.39 million, a price-to-earnings ratio of 11.22 and a beta of 1.56. The company has a quick ratio of 0.52, a current ratio of 1.43 and a debt-to-equity ratio of 0.09. Motorcar Parts of America has a one year low of $12.09 and a one year high of $27.19.
Several equities research analysts recently weighed in on the stock. BidaskClub cut shares of Motorcar Parts of America from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. ValuEngine upgraded shares of Motorcar Parts of America from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 28th. Zacks Investment Research cut shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a research note on Thursday, January 17th. Finally, Craig Hallum assumed coverage on shares of Motorcar Parts of America in a research note on Tuesday, January 8th. They issued a “buy” rating and a $28.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.00.
In other Motorcar Parts of America news, Director Barbara L. Whittaker purchased 2,000 shares of the business’s stock in a transaction on Monday, January 14th. The stock was purchased at an average price of $19.77 per share, for a total transaction of $39,540.00. Following the completion of the purchase, the director now directly owns 3,719 shares in the company, valued at $73,524.63. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Motorcar Parts of America by 2.8% during the fourth quarter. BlackRock Inc. now owns 2,802,966 shares of the auto parts company’s stock worth $46,642,000 after purchasing an additional 77,507 shares during the period. Dimensional Fund Advisors LP lifted its stake in Motorcar Parts of America by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,592,497 shares of the auto parts company’s stock worth $37,344,000 after purchasing an additional 40,546 shares during the period. Private Capital Management LLC lifted its stake in Motorcar Parts of America by 1.6% during the third quarter. Private Capital Management LLC now owns 1,458,150 shares of the auto parts company’s stock worth $34,194,000 after purchasing an additional 22,890 shares during the period. Vanguard Group Inc lifted its stake in Motorcar Parts of America by 20.2% during the third quarter. Vanguard Group Inc now owns 1,152,737 shares of the auto parts company’s stock worth $27,031,000 after purchasing an additional 193,851 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Motorcar Parts of America by 20.2% during the third quarter. Vanguard Group Inc. now owns 1,152,737 shares of the auto parts company’s stock worth $27,031,000 after purchasing an additional 193,851 shares during the period.
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Motorcar Parts of America Company Profile
Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy duty trucks, and industrial and agricultural application parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers, brake power boosters, and diagnostic equipment.
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