Motorcar Parts of America Inc. (NASDAQ:MPAA) shares traded down 9% during trading on Wednesday . The stock traded as low as $29.43 and last traded at $29.96, with a volume of 347,322 shares traded. The stock had previously closed at $32.92.

Several research analysts have commented on the stock. B. Riley restated a “buy” rating and issued a $37.00 price objective on shares of Motorcar Parts of America in a report on Monday, June 13th. Zacks Investment Research lowered shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. TheStreet lowered shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Finally, Roth Capital restated a “buy” rating on shares of Motorcar Parts of America in a report on Tuesday, June 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.67.

The stock has a 50-day moving average of $27.84 and a 200 day moving average of $31.77. The firm has a market capitalization of $559.73 million and a P/E ratio of 54.91.

Motorcar Parts of America (NASDAQ:MPAA) last posted its earnings results on Tuesday, August 9th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. During the same period last year, the business posted $0.44 earnings per share. The business earned $85.40 million during the quarter, compared to analysts’ expectations of $89.72 million. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts anticipate that Motorcar Parts of America Inc. will post $2.21 earnings per share for the current year.

In other Motorcar Parts of America news, CEO Joffe Selwyn sold 75,000 shares of Motorcar Parts of America stock in a transaction on Monday, June 20th. The shares were sold at an average price of $30.50, for a total transaction of $2,287,500.00. Following the completion of the transaction, the chief executive officer now directly owns 203,894 shares of the company’s stock, valued at $6,218,767. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip Gay sold 3,000 shares of Motorcar Parts of America stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $30.35, for a total transaction of $91,050.00. Following the transaction, the director now directly owns 4,184 shares of the company’s stock, valued at $126,984.40. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in Motorcar Parts of America by 3.4% in the fourth quarter. Wells Fargo & Company MN now owns 910,377 shares of the company’s stock valued at $30,780,000 after buying an additional 29,936 shares during the last quarter. Marshall Wace LLP purchased a new position in Motorcar Parts of America during the fourth quarter valued at approximately $4,652,000. Finally, Pear Tree Advisors Inc. purchased a new position in Motorcar Parts of America during the fourth quarter valued at approximately $1,461,000.

Motorcar Parts of America, Inc (MPA) is a manufacturer, remanufacturer and distributor of aftermarket automotive parts for import and domestic cars, light trucks, heavy duty, agricultural and industrial applications. The Company sells its products in North America to auto parts retail and traditional warehouse chains and to automobile manufacturers for both their aftermarket programs and their warranty replacement programs (OES).

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