Motorcar Parts of America (MPAA) Rating Increased to Hold at ValuEngine

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Wednesday, ValuEngine reports.

A number of other research firms have also issued reports on MPAA. BidaskClub upgraded Motorcar Parts of America from a “sell” rating to a “hold” rating in a research report on Friday, February 15th. Zacks Investment Research upgraded Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Finally, Craig Hallum assumed coverage on Motorcar Parts of America in a research report on Tuesday, January 8th. They issued a “buy” rating and a $28.00 price target for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $27.00.

NASDAQ:MPAA opened at $20.79 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 1.32 and a debt-to-equity ratio of 0.09. The company has a market cap of $387.30 million, a price-to-earnings ratio of 12.23 and a beta of 1.44. Motorcar Parts of America has a 12 month low of $12.09 and a 12 month high of $27.19.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings results on Monday, February 11th. The auto parts company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The company had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $115.98 million. Motorcar Parts of America had a net margin of 0.99% and a return on equity of 10.42%. Motorcar Parts of America’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Equities research analysts forecast that Motorcar Parts of America will post 1.46 earnings per share for the current year.

In related news, Director Rudolph J. Borneo sold 1,674 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $21.54, for a total value of $36,057.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of MPAA. Bank of New York Mellon Corp lifted its holdings in shares of Motorcar Parts of America by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 259,864 shares of the auto parts company’s stock worth $6,094,000 after purchasing an additional 11,848 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Motorcar Parts of America by 2.7% in the 3rd quarter. BlackRock Inc. now owns 2,725,459 shares of the auto parts company’s stock worth $63,911,000 after purchasing an additional 72,547 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Motorcar Parts of America by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,592,497 shares of the auto parts company’s stock worth $37,344,000 after purchasing an additional 40,546 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in shares of Motorcar Parts of America by 63.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 13,057 shares of the auto parts company’s stock worth $306,000 after purchasing an additional 5,057 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Motorcar Parts of America by 15.0% in the 3rd quarter. Teachers Advisors LLC now owns 40,892 shares of the auto parts company’s stock worth $959,000 after purchasing an additional 5,339 shares in the last quarter.

About Motorcar Parts of America

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy duty trucks, and industrial and agricultural application parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers, brake power boosters, and diagnostic equipment.

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