Motorcar Parts of America (NASDAQ:MPAA) Stock Rating Upgraded by Wall Street Zen

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a report released on Saturday.

Other research analysts have also issued reports about the stock. Oppenheimer initiated coverage on shares of Motorcar Parts of America in a research note on Friday, March 6th. They issued an “outperform” rating and a $18.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Motorcar Parts of America in a research note on Tuesday. Finally, Weiss Ratings upgraded Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Motorcar Parts of America has an average rating of “Moderate Buy” and an average price target of $19.00.

Motorcar Parts of America Stock Up 0.9%

Shares of MPAA stock opened at $15.09 on Friday. The stock’s 50 day simple moving average is $11.46 and its 200 day simple moving average is $11.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.41 and a current ratio of 1.46. Motorcar Parts of America has a twelve month low of $9.29 and a twelve month high of $18.12. The company has a market capitalization of $285.50 million, a price-to-earnings ratio of 27.44 and a beta of 1.21.

Motorcar Parts of America (NASDAQ:MPAA) last posted its earnings results on Monday, June 8th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. Motorcar Parts of America had a net margin of 1.57% and a return on equity of 5.53%. The business had revenue of $212.28 million for the quarter, compared to analyst estimates of $175.96 million. During the same period last year, the business posted ($0.04) EPS. As a group, research analysts predict that Motorcar Parts of America will post 0.79 EPS for the current year.

Institutional Investors Weigh In On Motorcar Parts of America

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in Motorcar Parts of America by 4.1% during the second quarter. Osaic Holdings Inc. now owns 23,712 shares of the auto parts company’s stock worth $266,000 after buying an additional 933 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Motorcar Parts of America by 4.5% during the second quarter. Lazard Asset Management LLC now owns 27,805 shares of the auto parts company’s stock worth $311,000 after purchasing an additional 1,191 shares during the period. Barclays PLC lifted its stake in Motorcar Parts of America by 6.1% during the fourth quarter. Barclays PLC now owns 20,720 shares of the auto parts company’s stock worth $256,000 after purchasing an additional 1,196 shares during the period. Atlas Legacy Advisors LLC lifted its stake in Motorcar Parts of America by 1.7% during the fourth quarter. Atlas Legacy Advisors LLC now owns 93,443 shares of the auto parts company’s stock worth $1,153,000 after purchasing an additional 1,553 shares during the period. Finally, Invesco Ltd. lifted its stake in Motorcar Parts of America by 5.4% during the second quarter. Invesco Ltd. now owns 39,479 shares of the auto parts company’s stock worth $442,000 after purchasing an additional 2,009 shares during the period. Institutional investors and hedge funds own 83.48% of the company’s stock.

Motorcar Parts of America Company Profile

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.