Zacks Investment Research Downgrades Motorcar Parts of America, Inc. (MPAA) to Sell

Motorcar Parts of America, Inc. (NASDAQ:MPAA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “Motorcar Parts of America, Inc. is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications. The Company sells its products in North America to auto parts retail and traditional warehouse chains and to automobile manufacturers for both their aftermarket programs and their warranty replacement programs. It recycles materials, including metal from the used cores and corrugated packaging. The Company carries over a huge stock keeping units (SKUs) for automotive parts that are sold under its customers’ recognized private label brand names and its Quality-Built, Pure Energy, Xtreme, Reliance and other brand names. It sells its products to automotive retail outlets and the professional repair market throughout the United States and Canada. Motorcar is headquartered in Torrance, CA. “

Several other research firms have also recently commented on MPAA. ValuEngine cut Motorcar Parts of America from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Roth Capital set a $32.00 target price on Motorcar Parts of America and gave the stock a “buy” rating in a research note on Sunday, August 20th. TheStreet upgraded Motorcar Parts of America from a “c” rating to a “b-” rating in a research report on Monday, October 9th. BidaskClub upgraded Motorcar Parts of America from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, B. Riley restated a “buy” rating on shares of Motorcar Parts of America in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Motorcar Parts of America presently has an average rating of “Hold” and an average price target of $35.50.

Shares of Motorcar Parts of America (NASDAQ:MPAA) opened at $25.18 on Thursday. The firm has a market capitalization of $486.46, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.89 and a quick ratio of 0.29. Motorcar Parts of America has a 1-year low of $24.13 and a 1-year high of $31.57.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings results on Thursday, November 9th. The auto parts company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.06). The firm had revenue of $111.77 million for the quarter, compared to analysts’ expectations of $112.83 million. Motorcar Parts of America had a net margin of 8.03% and a return on equity of 15.15%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. sell-side analysts predict that Motorcar Parts of America will post 2.32 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its stake in Motorcar Parts of America by 77.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,664 shares of the auto parts company’s stock valued at $103,000 after buying an additional 1,594 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Motorcar Parts of America by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,060 shares of the auto parts company’s stock worth $115,000 after buying an additional 608 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Motorcar Parts of America by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 4,901 shares of the auto parts company’s stock worth $138,000 after buying an additional 68 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Motorcar Parts of America by 57.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,478 shares of the auto parts company’s stock worth $155,000 after buying an additional 2,001 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Motorcar Parts of America during the 2nd quarter worth $221,000.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications.

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