Motorcar Parts of America (NASDAQ:MPAA) Issues Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Motorcar Parts of America (NASDAQ:MPAA) posted its earnings results on Monday. The auto parts company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14), FiscalAI reports. Motorcar Parts of America had a net margin of 0.31% and a return on equity of 5.76%. The company had revenue of $167.70 million during the quarter, compared to analyst estimates of $189.00 million.

Motorcar Parts of America Stock Up 2.7%

MPAA opened at $13.14 on Monday. Motorcar Parts of America has a 12 month low of $5.38 and a 12 month high of $18.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.46 and a quick ratio of 0.46. The stock has a market cap of $257.02 million, a P/E ratio of 119.45 and a beta of 1.32. The stock’s 50 day moving average price is $12.88 and its 200 day moving average price is $14.03.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Loop Capital set a $20.00 price objective on Motorcar Parts of America in a report on Friday, December 12th. Zacks Research upgraded Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Motorcar Parts of America in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Motorcar Parts of America from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 14th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Motorcar Parts of America currently has an average rating of “Reduce” and an average price target of $20.00.

Motorcar Parts of America declared that its Board of Directors has initiated a share repurchase program on Monday, December 8th that allows the company to repurchase $57.00 million in shares. This repurchase authorization allows the auto parts company to repurchase up to 22.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Motorcar Parts of America

A number of institutional investors have recently made changes to their positions in MPAA. Marshall Wace LLP grew its holdings in shares of Motorcar Parts of America by 96.6% in the 2nd quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock worth $5,667,000 after acquiring an additional 248,637 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Motorcar Parts of America by 100.6% in the 2nd quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company’s stock valued at $5,031,000 after purchasing an additional 225,225 shares during the period. Invesco Ltd. increased its stake in Motorcar Parts of America by 391.2% in the 3rd quarter. Invesco Ltd. now owns 193,939 shares of the auto parts company’s stock worth $3,208,000 after purchasing an additional 154,460 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Motorcar Parts of America in the 3rd quarter worth about $2,206,000. Finally, Ameriprise Financial Inc. acquired a new stake in Motorcar Parts of America during the 3rd quarter worth about $1,835,000. 83.48% of the stock is owned by institutional investors and hedge funds.

Motorcar Parts of America Company Profile

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.