Motorcar Parts of America (NASDAQ:MPAA) Issues Quarterly Earnings Results, Misses Expectations By $0.31 EPS

Motorcar Parts of America (NASDAQ:MPAA) announced its quarterly earnings results on Monday. The auto parts company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.31), Zacks reports. Motorcar Parts of America had a net margin of 0.21% and a return on equity of 7.34%.

Motorcar Parts of America Price Performance

Shares of Motorcar Parts of America stock traded down $3.54 during trading on Monday, reaching $13.84. The company’s stock had a trading volume of 71,858 shares, compared to its average volume of 156,851. The business has a 50 day moving average price of $16.07 and a 200-day moving average price of $13.05. Motorcar Parts of America has a 12-month low of $5.38 and a 12-month high of $18.12. The company has a market capitalization of $267.83 million, a P/E ratio of 201.77 and a beta of 1.42. The company has a quick ratio of 0.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.16.

Institutional Investors Weigh In On Motorcar Parts of America

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of Motorcar Parts of America by 850.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 83,082 shares of the auto parts company’s stock valued at $1,374,000 after purchasing an additional 74,337 shares in the last quarter. Osaic Holdings Inc. grew its position in Motorcar Parts of America by 4.1% during the second quarter. Osaic Holdings Inc. now owns 23,712 shares of the auto parts company’s stock worth $266,000 after buying an additional 933 shares during the period. Evergreen Capital Management LLC purchased a new position in Motorcar Parts of America in the second quarter valued at about $224,000. Man Group plc acquired a new stake in shares of Motorcar Parts of America during the 2nd quarter valued at approximately $745,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Motorcar Parts of America by 4.5% during the 2nd quarter. Lazard Asset Management LLC now owns 27,805 shares of the auto parts company’s stock worth $311,000 after acquiring an additional 1,191 shares in the last quarter. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Motorcar Parts of America in a research note on Wednesday, October 8th. Zacks Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Motorcar Parts of America has a consensus rating of “Hold” and a consensus price target of $14.00.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.