Motorcar Parts of America (NASDAQ:MPAA) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a sell rating to a hold rating in a research report sent to investors on Wednesday, June 26th, BidAskClub reports.

A number of other equities analysts have also recently commented on MPAA. Zacks Investment Research upgraded Hope Bancorp from a sell rating to a hold rating in a report on Wednesday, April 17th. ValuEngine downgraded shares of Viewray from a buy rating to a hold rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $27.00.

MPAA stock traded down $0.47 during trading hours on Wednesday, reaching $17.72. 57,025 shares of the stock were exchanged, compared to its average volume of 148,285. The company has a market cap of $348.17 million, a P/E ratio of 11.74 and a beta of 1.64. The firm’s 50-day simple moving average is $18.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.40 and a current ratio of 1.26. 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 announced its quarterly earnings data on Friday, June 28th. The auto parts company reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. Motorcar Parts of America had a positive return on equity of 10.38% and a negative net margin of 1.56%. The company had revenue of $132.66 million during the quarter, compared to analysts’ expectations of $131.53 million. During the same quarter last year, the company earned $0.54 EPS. Motorcar Parts of America’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts expect that Motorcar Parts of America will post 1.71 earnings per share for the current year.

A number of large investors have recently made changes to their positions in MPAA. Rutabaga Capital Management LLC MA increased its stake in Motorcar Parts of America by 486.8% in the first quarter. Rutabaga Capital Management LLC MA now owns 665,942 shares of the auto parts company’s stock valued at $12,566,000 after acquiring an additional 552,446 shares during the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of Motorcar Parts of America by 31.0% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,246,164 shares of the auto parts company’s stock worth $23,515,000 after buying an additional 294,546 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Motorcar Parts of America by 67.0% during the first quarter. Pzena Investment Management LLC now owns 653,637 shares of the auto parts company’s stock worth $12,334,000 after buying an additional 262,307 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Motorcar Parts of America during the fourth quarter worth $1,538,000. Finally, BlackRock Inc. grew its stake in shares of Motorcar Parts of America by 2.8% during the fourth quarter. BlackRock Inc. now owns 2,802,966 shares of the auto parts company’s stock worth $46,642,000 after buying an additional 77,507 shares during the last quarter.

Motorcar Parts of America Company Profile

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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