Motorcar Parts of America, Inc. (MPAA) Downgraded by Zacks Investment Research to “Sell”

Motorcar Parts of America, Inc. (NASDAQ:MPAA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

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. “

A number of other brokerages have also issued reports on MPAA. BidaskClub upgraded shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Roth Capital set a $31.00 target price on shares of Motorcar Parts of America and gave the company a “buy” rating in a research report on Tuesday, June 13th. FBR & Co reiterated an “outperform” rating and issued a $39.00 target price on shares of Motorcar Parts of America in a research report on Tuesday, July 18th. ValuEngine lowered shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, TheStreet lowered shares of Motorcar Parts of America from a “b-” rating to a “c” rating in a research report on Monday, August 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.50.

Shares of Motorcar Parts of America (MPAA) opened at 28.92 on Wednesday. The firm has a market cap of $538.92 million, a PE ratio of 14.98 and a beta of 0.98. Motorcar Parts of America has a 1-year low of $21.75 and a 1-year high of $31.57. The stock has a 50 day moving average of $27.42 and a 200 day moving average of $28.30.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $95.06 million during the quarter, compared to analyst estimates of $93.60 million. Motorcar Parts of America had a net margin of 8.75% and a return on equity of 16.77%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Equities research analysts anticipate that Motorcar Parts of America will post $2.36 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the stock. FNY Partners Fund LP bought a new position in Motorcar Parts of America in the 1st quarter valued at about $230,000. Bank of America Corp DE grew its position in Motorcar Parts of America by 76.3% in the 1st quarter. Bank of America Corp DE now owns 38,389 shares of the auto parts company’s stock valued at $1,180,000 after buying an additional 16,610 shares in the last quarter. Prudential Financial Inc. grew its position in Motorcar Parts of America by 51.8% in the 1st quarter. Prudential Financial Inc. now owns 48,722 shares of the auto parts company’s stock valued at $1,497,000 after buying an additional 16,632 shares in the last quarter. Engine Capital Management LLC grew its position in Motorcar Parts of America by 2,676.5% in the 1st quarter. Engine Capital Management LLC now owns 101,010 shares of the auto parts company’s stock valued at $3,104,000 after buying an additional 97,372 shares in the last quarter. Finally, Eqis Capital Management Inc. bought a new position in Motorcar Parts of America in the 2nd quarter valued at about $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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