Motorcar Parts of America, Inc. (MPAA) Receives $26.50 Average PT from Brokerages

Motorcar Parts of America, Inc. (NASDAQ:MPAA) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $26.50.

MPAA has been the topic of a number of research reports. ValuEngine upgraded shares of Motorcar Parts of America from a “strong sell” rating to a “sell” rating in a report on Saturday, December 15th. BidaskClub raised shares of Motorcar Parts of America from a “strong sell” rating to a “sell” rating in a report on Monday, January 7th. Craig Hallum started coverage on shares of Motorcar Parts of America in a report on Tuesday, January 8th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a report on Thursday, January 17th.

In other news, Director Rudolph J. Borneo sold 1,674 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $21.54, for a total value of $36,057.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Barbara L. Whittaker purchased 2,000 shares of the firm’s stock in a transaction dated Monday, January 14th. The stock was acquired at an average cost of $19.77 per share, for a total transaction of $39,540.00. Following the completion of the purchase, the director now owns 3,719 shares of the company’s stock, valued at approximately $73,524.63. The disclosure for this purchase can be found here. Corporate insiders own 4.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Motorcar Parts of America by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 153,567 shares of the auto parts company’s stock worth $2,555,000 after purchasing an additional 832 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Motorcar Parts of America by 2.6% during the 4th quarter. Legal & General Group Plc now owns 41,035 shares of the auto parts company’s stock valued at $676,000 after acquiring an additional 1,043 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Motorcar Parts of America by 14.9% during the 4th quarter. Squarepoint Ops LLC now owns 12,434 shares of the auto parts company’s stock valued at $207,000 after acquiring an additional 1,617 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Motorcar Parts of America by 6.2% during the 4th quarter. Arizona State Retirement System now owns 29,130 shares of the auto parts company’s stock valued at $485,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Motorcar Parts of America by 1.3% during the 3rd quarter. Wells Fargo & Company MN now owns 210,304 shares of the auto parts company’s stock valued at $4,932,000 after acquiring an additional 2,634 shares in the last quarter.

Shares of NASDAQ MPAA traded down $0.02 during trading hours on Thursday, reaching $19.78. 3,755 shares of the stock were exchanged, compared to its average volume of 113,308. The firm has a market cap of $364.33 million, a P/E ratio of 11.64 and a beta of 1.44. The company has a current ratio of 1.32, a quick ratio of 0.45 and a debt-to-equity ratio of 0.09. Motorcar Parts of America has a 52 week low of $12.09 and a 52 week high of $27.19.

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

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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