Motorcar Parts of America Inc. (MPAA) Stock Price Up 1.5%
Shares of Motorcar Parts of America Inc. (NASDAQ:MPAA) rose 1.5% on Wednesday . The company traded as high as $28.67 and last traded at $28.57, with a volume of 71,643 shares. The stock had previously closed at $28.14.
MPAA has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and set a $37.00 target price on shares of Motorcar Parts of America in a report on Monday, June 13th. Roth Capital reaffirmed a “buy” rating on shares of Motorcar Parts of America in a research report on Tuesday, June 7th. TheStreet downgraded Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Finally, Zacks Investment Research raised Motorcar Parts of America from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a research report on Friday, August 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.83.
The stock’s 50-day moving average is $27.89 and its 200-day moving average is $31.60. The stock has a market cap of $510.83 million and a PE ratio of 32.53.
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 the Thomson Reuters’ consensus estimate of $0.40 by $0.12. The company earned $85.40 million during the quarter, compared to analyst estimates of $89.72 million. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. On average, analysts predict that Motorcar Parts of America Inc. will post $2.36 earnings per share for the current year.
In other news, Director Philip Gay sold 3,000 shares of Motorcar Parts of America stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $30.35, for a total transaction of $91,050.00. Following the completion of the sale, the director now directly owns 4,184 shares of the company’s stock, valued at approximately $126,984.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joffe Selwyn sold 75,000 shares of Motorcar Parts of America stock in a transaction on Monday, June 20th. The stock was sold at an average price of $30.50, for a total transaction of $2,287,500.00. Following the sale, the chief executive officer now directly owns 203,894 shares of the company’s stock, valued at $6,218,767. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Motorcar Parts of America stock. Wells Fargo & Company MN boosted its stake in Motorcar Parts of America Inc. (NASDAQ:MPAA) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 910,377 shares of the company’s stock after buying an additional 29,936 shares during the period. Wells Fargo & Company MN owned about 4.97% of Motorcar Parts of America worth $30,780,000 as of its most recent filing with the SEC.
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).