Zacks Investment Research Lowers Motorcar Parts of America (MPAA) to Sell

Zacks Investment Research downgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a hold rating to a sell rating in a research report report published on Thursday.

According to Zacks, “Motorcar Parts of America, Inc. is a remanufacturer, manufacturer and distributor of automotive aftermarket parts — including alternators, starters, wheel bearing and hub assemblies, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications. In addition, the company designs and manufactures test equipment for performance, endurance and production testing of alternators, starters, electric motors, inverters and belt starter generators for both the OE and aftermarket. Motorcar Parts of America’s products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada, with facilities located in California, Mexico, Malaysia and China, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia and Canada. Motorcar Parts of America, Inc. is headquartered in Torrance, CA. “

MPAA has been the topic of a number of other research reports. BidaskClub raised Motorcar Parts of America from a strong sell rating to a sell rating in a research note on Wednesday, November 7th. ValuEngine raised Motorcar Parts of America from a strong sell rating to a sell rating in a research note on Sunday, October 28th. Finally, Craig Hallum began coverage on Motorcar Parts of America in a research note on Tuesday, January 8th. They issued a buy rating and a $28.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Motorcar Parts of America currently has an average rating of Hold and a consensus price target of $30.00.

NASDAQ:MPAA traded down $0.08 during mid-day trading on Thursday, reaching $20.14. 155,200 shares of the stock were exchanged, compared to its average volume of 241,863. The firm has a market cap of $378.81 million, a P/E ratio of 13.25 and a beta of 1.38. Motorcar Parts of America has a 1-year low of $12.09 and a 1-year high of $28.52. The company has a quick ratio of 0.52, a current ratio of 1.43 and a debt-to-equity ratio of 0.09.

Motorcar Parts of America (NASDAQ:MPAA) last released its earnings results on Tuesday, January 8th. The auto parts company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The firm had revenue of $127.94 million for the quarter, compared to analyst estimates of $120.63 million. Motorcar Parts of America had a return on equity of 10.81% and a net margin of 0.20%. Motorcar Parts of America’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. Sell-side analysts expect that Motorcar Parts of America will post 1.63 EPS for the current year.

In related news, Director Barbara L. Whittaker purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 14th. The shares were purchased at an average price of $19.77 per share, with a total value of $39,540.00. Following the purchase, the director now owns 3,719 shares of the company’s stock, valued at approximately $73,524.63. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its stake in 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. Private Capital Management LLC grew its stake in Motorcar Parts of America by 1.6% during the 3rd quarter. Private Capital Management LLC now owns 1,458,150 shares of the auto parts company’s stock valued at $34,194,000 after acquiring an additional 22,890 shares in the last quarter. National Investment Services Inc. WI grew its stake in Motorcar Parts of America by 57.9% during the 3rd quarter. National Investment Services Inc. WI now owns 38,487 shares of the auto parts company’s stock valued at $903,000 after acquiring an additional 14,114 shares in the last quarter. Group One Trading L.P. grew its stake in Motorcar Parts of America by 636.7% during the 3rd quarter. Group One Trading L.P. now owns 17,116 shares of the auto parts company’s stock valued at $401,000 after acquiring an additional 20,305 shares in the last quarter. Finally, Waddell & Reed Financial Inc. lifted its holdings in shares of Motorcar Parts of America by 11.0% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 270,900 shares of the auto parts company’s stock valued at $5,069,000 after buying an additional 26,900 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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