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

Zacks Investment Research lowered shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) from a hold rating to a sell rating in a research report sent to investors 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. “

MPAA has been the subject of a number of other reports. BidaskClub downgraded Motorcar Parts of America from a hold rating to a sell rating in a research note on Tuesday, July 25th. TheStreet downgraded Motorcar Parts of America from a b- rating to a c rating in a research note on Monday, August 28th. Roth Capital set a $32.00 price target on Motorcar Parts of America and gave the company a buy rating in a research note on Sunday, August 20th. B. Riley reiterated a buy rating on shares of Motorcar Parts of America in a research note on Wednesday, November 1st. Finally, ValuEngine downgraded Motorcar Parts of America from a buy rating to a hold rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $35.50.

Shares of Motorcar Parts of America (MPAA) traded up $0.12 during trading on Thursday, reaching $25.29. The company had a trading volume of 145,830 shares, compared to its average volume of 168,570. Motorcar Parts of America has a 1-year low of $24.13 and a 1-year high of $31.57. The firm has a market cap of $482.28, a price-to-earnings ratio of 12.84, a PEG ratio of 0.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.89.

Motorcar Parts of America (NASDAQ:MPAA) last announced its earnings results on Thursday, November 9th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.06). The firm had revenue of $111.77 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. analysts anticipate that Motorcar Parts of America will post 2.23 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in MPAA. Parametric Portfolio Associates LLC lifted its holdings in Motorcar Parts of America by 75.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 17,963 shares of the auto parts company’s stock worth $552,000 after purchasing an additional 7,753 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Motorcar Parts of America by 17.1% in the 1st quarter. OppenheimerFunds Inc. now owns 10,820 shares of the auto parts company’s stock valued at $333,000 after acquiring an additional 1,581 shares in the last quarter. Teachers Advisors LLC raised its holdings in Motorcar Parts of America by 3.8% in the 1st quarter. Teachers Advisors LLC now owns 30,087 shares of the auto parts company’s stock valued at $925,000 after acquiring an additional 1,094 shares in the last quarter. California Public Employees Retirement System raised its holdings in Motorcar Parts of America by 5.1% in the 1st quarter. California Public Employees Retirement System now owns 28,700 shares of the auto parts company’s stock valued at $882,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Motorcar Parts of America by 1.6% in the 1st quarter. Legal & General Group Plc now owns 31,149 shares of the auto parts company’s stock valued at $957,000 after acquiring an additional 498 shares in the last quarter.

About Motorcar Parts of America

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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