Motorcar Parts of America (NASDAQ:MPAA) Lowered to “Hold” Rating by Wall Street Zen

Motorcar Parts of America (NASDAQ:MPAA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Zacks Research raised Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Loop Capital set a $20.00 price target on Motorcar Parts of America in a research report on Friday, December 12th. Finally, Weiss Ratings upgraded Motorcar Parts of America from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.00.

Motorcar Parts of America Stock Up 5.5%

Shares of Motorcar Parts of America stock opened at $10.04 on Friday. Motorcar Parts of America has a twelve month low of $8.17 and a twelve month high of $18.12. The stock has a market cap of $192.87 million, a price-to-earnings ratio of 111.56 and a beta of 1.32. The company has a current ratio of 1.43, a quick ratio of 0.46 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $12.60 and a 200 day moving average price of $13.94.

Motorcar Parts of America declared that its board has approved a stock buyback program on Monday, December 8th that allows the company to repurchase $57.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 22.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Motorcar Parts of America

A number of hedge funds have recently bought and sold shares of MPAA. JPMorgan Chase & Co. increased its holdings in Motorcar Parts of America by 434.8% during the 4th quarter. JPMorgan Chase & Co. now owns 444,341 shares of the auto parts company’s stock worth $5,483,000 after purchasing an additional 361,259 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Motorcar Parts of America by 96.6% during the 2nd quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock valued at $5,667,000 after buying an additional 248,637 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Motorcar Parts of America by 100.6% during the second quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company’s stock worth $5,031,000 after buying an additional 225,225 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Motorcar Parts of America by 21.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 960,289 shares of the auto parts company’s stock worth $11,850,000 after buying an additional 169,979 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Motorcar Parts of America by 391.2% in the third quarter. Invesco Ltd. now owns 193,939 shares of the auto parts company’s stock worth $3,208,000 after buying an additional 154,460 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

About Motorcar Parts of America

Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.

In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.