Motorcar Parts of America (NASDAQ:MPAA) Stock Rating Lowered by Wall Street Zen

Motorcar Parts of America (NASDAQ:MPAA) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently weighed in on MPAA. Weiss Ratings upgraded Motorcar Parts of America from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Loop Capital set a $20.00 price objective on shares of Motorcar Parts of America in a research report on Friday, December 12th. Finally, Zacks Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

Motorcar Parts of America Trading Up 5.5%

Motorcar Parts of America stock opened at $10.04 on Friday. The stock has a 50-day simple moving average of $12.60 and a 200 day simple moving average of $13.98. The stock has a market capitalization of $192.87 million, a P/E ratio of 111.56 and a beta of 1.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.41 and a current ratio of 1.43. Motorcar Parts of America has a 52 week low of $8.17 and a 52 week high of $18.12.

Motorcar Parts of America declared that its Board of Directors has approved a stock buyback program on Monday, December 8th that allows the company to buyback $57.00 million in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 22.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Motorcar Parts of America

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in Motorcar Parts of America in the 1st quarter valued at $234,000. Goldman Sachs Group Inc. increased its position in shares of Motorcar Parts of America by 294.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,432 shares of the auto parts company’s stock worth $1,002,000 after purchasing an additional 78,695 shares during the period. Jane Street Group LLC raised its stake in Motorcar Parts of America by 156.0% in the first quarter. Jane Street Group LLC now owns 89,733 shares of the auto parts company’s stock valued at $852,000 after purchasing an additional 54,681 shares in the last quarter. Acadian Asset Management LLC lifted its position in Motorcar Parts of America by 64.6% during the first quarter. Acadian Asset Management LLC now owns 36,326 shares of the auto parts company’s stock worth $343,000 after purchasing an additional 14,251 shares during the period. Finally, Ritholtz Wealth Management grew its stake in Motorcar Parts of America by 139.4% during the second quarter. Ritholtz Wealth Management now owns 90,418 shares of the auto parts company’s stock worth $1,013,000 after buying an additional 52,654 shares in the last quarter. Institutional investors own 83.48% of the company’s stock.

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.