$133.20 Million in Sales Expected for Motorcar Parts of America, Inc. (MPAA) This Quarter

Wall Street analysts expect that Motorcar Parts of America, Inc. (NASDAQ:MPAA) will announce $133.20 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Motorcar Parts of America’s earnings, with the lowest sales estimate coming in at $130.50 million and the highest estimate coming in at $135.90 million. Motorcar Parts of America posted sales of $121.11 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The firm is expected to report its next quarterly earnings results on Thursday, June 13th.

On average, analysts expect that Motorcar Parts of America will report full year sales of $476.30 million for the current fiscal year, with estimates ranging from $474.10 million to $478.50 million. For the next fiscal year, analysts expect that the company will post sales of $539.10 million, with estimates ranging from $532.20 million to $546.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Motorcar Parts of America.

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

A number of equities analysts have issued reports on MPAA shares. Craig Hallum started coverage on 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. BidaskClub upgraded Motorcar Parts of America from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine upgraded Motorcar Parts of America from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Finally, Zacks Investment Research upgraded Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $27.00.

NASDAQ:MPAA remained flat at $$20.64 on Friday. 103,140 shares of the company’s stock were exchanged, compared to its average volume of 154,060. The firm has a market cap of $385.21 million, a P/E ratio of 12.14 and a beta of 1.44. Motorcar Parts of America has a twelve month low of $12.09 and a twelve month high of $27.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.32 and a quick ratio of 0.45.

In related news, Director Rudolph J. Borneo sold 1,674 shares of the stock in a transaction 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 legal filing with the SEC, which can be accessed through this link. 4.70% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cutler Group LP raised its position in Motorcar Parts of America by 183.8% in the 4th quarter. Cutler Group LP now owns 1,844 shares of the auto parts company’s stock valued at $30,000 after buying an additional 4,044 shares during the last quarter. First Hawaiian Bank purchased a new stake in Motorcar Parts of America in the 4th quarter valued at $72,000. Municipal Employees Retirement System of Michigan purchased a new stake in Motorcar Parts of America in the 4th quarter valued at $90,000. Metropolitan Life Insurance Co. NY raised its position in Motorcar Parts of America by 402.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,315 shares of the auto parts company’s stock valued at $105,000 after buying an additional 5,057 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Motorcar Parts of America in the 4th quarter valued at $120,000.

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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