Motorcar Parts of America (NASDAQ:MPAA) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.04 and traded as high as $14.79. Motorcar Parts of America shares last traded at $14.37, with a volume of 116,946 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Wall Street Zen raised Motorcar Parts of America from a “hold” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Motorcar Parts of America in a report on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Motorcar Parts of America Price Performance

The company has a quick ratio of 0.47, a current ratio of 1.46 and a debt-to-equity ratio of 0.15. The company has a market cap of $271.88 million, a PE ratio of 26.13 and a beta of 1.14. The business’s 50 day moving average price is $13.10 and its 200-day moving average price is $12.04.

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

Institutional Investors Weigh In On Motorcar Parts of America

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in Motorcar Parts of America by 2,191.3% during the second quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock valued at $32,000 after buying an additional 2,761 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Motorcar Parts of America in the fourth quarter valued at $63,000. Quarry LP lifted its holdings in Motorcar Parts of America by 1,117.9% in the 3rd quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock valued at $70,000 after acquiring an additional 3,868 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Motorcar Parts of America by 7,127.3% during the second quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company’s stock valued at $98,000 after purchasing an additional 8,624 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Motorcar Parts of America during the 2nd quarter worth $109,000. 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.