Motorcar Parts of America, Inc. (NASDAQ:MPAA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Mototcar Parts & Accessories Inc. is a leading manufacturer of replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. The company’s full line of alternators and starters are remanufactured for vehicles imported from Japan, Germany, Sweden, France and Korea. The imported vehicles for which the company remanufactures alternators and starters also include vehicles produced by GM, Chrysler and Ford. The company also assembles and distributes ignition wire sets for imported and domestic cars and light trucks. “

A number of other research firms have also recently commented on MPAA. ValuEngine cut shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. B. Riley restated a “buy” rating and set a $39.00 target price on shares of Motorcar Parts of America in a research note on Monday, June 12th. BidaskClub upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. FBR & Co restated an “outperform” rating and set a $39.00 target price on shares of Motorcar Parts of America in a research note on Tuesday, July 18th. Finally, Roth Capital set a $31.00 target price on shares of Motorcar Parts of America and gave the stock a “buy” rating in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $35.00.

Motorcar Parts of America (NASDAQ MPAA) opened at 26.92 on Thursday. The company’s 50-day moving average is $26.45 and its 200 day moving average is $28.27. The stock has a market cap of $501.65 million, a PE ratio of 13.95 and a beta of 0.95. Motorcar Parts of America has a 52 week low of $21.75 and a 52 week high of $31.57.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings data on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Motorcar Parts of America had a net margin of 8.75% and a return on equity of 16.77%. The firm had revenue of $95.06 million for the quarter, compared to analysts’ expectations of $93.60 million. During the same quarter in the prior year, the business earned $0.52 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts expect that Motorcar Parts of America will post $2.38 earnings per share for the current fiscal year.

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In other Motorcar Parts of America news, Director Rudolph J. Borneo sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $27.49, for a total transaction of $82,470.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $82,470. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Douglas Earl Schooner sold 1,192 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $28.57, for a total transaction of $34,055.44. Following the sale, the vice president now directly owns 4,235 shares of the company’s stock, valued at $120,993.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,531 shares of company stock worth $267,616. 4.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MPAA. State of Alaska Department of Revenue grew its holdings in Motorcar Parts of America by 77.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,664 shares of the auto parts company’s stock valued at $103,000 after buying an additional 1,594 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Motorcar Parts of America during the 1st quarter valued at approximately $106,000. BNP Paribas Arbitrage SA grew its holdings in Motorcar Parts of America by 13.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,477 shares of the auto parts company’s stock valued at $107,000 after buying an additional 412 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Motorcar Parts of America by 46.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,547 shares of the auto parts company’s stock valued at $109,000 after buying an additional 1,124 shares in the last quarter. Finally, Mason Street Advisors LLC grew its holdings in Motorcar Parts of America by 7.2% during the 1st quarter. Mason Street Advisors LLC now owns 4,371 shares of the auto parts company’s stock valued at $134,000 after buying an additional 292 shares in the last quarter.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications.

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