Motorcar Parts of America, Inc. (NASDAQ:MPAA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “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. 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. It recycles materials, including metal from the used cores and corrugated packaging. The Company carries over a huge stock keeping units (SKUs) for automotive parts that are sold under its customers’ recognized private label brand names and its Quality-Built, Pure Energy, Xtreme, Reliance and other brand names. It sells its products to automotive retail outlets and the professional repair market throughout the United States and Canada. Motorcar is headquartered in Torrance, CA. “

Several other research analysts have also recently weighed in on the company. TheStreet raised Motorcar Parts of America from a “c” rating to a “b-” rating in a research report on Monday, October 9th. BidaskClub raised Motorcar Parts of America from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. FBR & Co reissued an “outperform” rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a research report on Tuesday, July 18th. ValuEngine cut Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Roth Capital set a $32.00 price objective on Motorcar Parts of America and gave the stock a “buy” rating in a research report on Sunday, August 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Motorcar Parts of America presently has a consensus rating of “Hold” and a consensus target price of $35.50.

Shares of Motorcar Parts of America (MPAA) opened at $26.13 on Wednesday. The company has a market capitalization of $486.94, a P/E ratio of 12.98, a PEG ratio of 0.51 and a beta of 0.94. Motorcar Parts of America has a 1-year low of $21.75 and a 1-year high of $31.57. The company has a current ratio of 0.86, a quick ratio of 0.21 and a debt-to-equity ratio of 0.06.

Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Motorcar Parts of America had a return on equity of 16.77% and a net margin of 8.75%. The business had revenue of $95.06 million during the quarter, compared to the consensus estimate of $93.60 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Motorcar Parts of America’s revenue was up 11.3% compared to the same quarter last year. sell-side analysts expect that Motorcar Parts of America will post 2.32 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its position in shares of Motorcar Parts of America by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 4,901 shares of the auto parts company’s stock valued at $138,000 after buying an additional 68 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Motorcar Parts of America by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 13,649 shares of the auto parts company’s stock valued at $385,000 after buying an additional 114 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Motorcar Parts of America by 0.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 18,740 shares of the auto parts company’s stock valued at $530,000 after buying an additional 140 shares during the last quarter. Aperio Group LLC lifted its position in shares of Motorcar Parts of America by 2.6% during the 2nd quarter. Aperio Group LLC now owns 9,908 shares of the auto parts company’s stock valued at $280,000 after buying an additional 253 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Motorcar Parts of America by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,279 shares of the auto parts company’s stock valued at $432,000 after buying an additional 367 shares during the last quarter.

About Motorcar Parts of America

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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