Roth Capital Analysts Give Motorcar Parts of America (MPAA) a $26.00 Price Target

Roth Capital set a $26.00 target price on Motorcar Parts of America (NASDAQ:MPAA) in a report issued on Monday morning. The firm currently has a buy rating on the auto parts company’s stock.

MPAA has been the topic of several other reports. Zacks Investment Research upgraded Motorcar Parts of America from a sell rating to a hold rating in a report on Wednesday, November 8th. ValuEngine downgraded Motorcar Parts of America from a buy rating to a hold rating in a report on Sunday, December 31st. BidaskClub upgraded Motorcar Parts of America from a strong sell rating to a sell rating in a report on Saturday, December 16th. B. Riley restated a buy rating on shares of Motorcar Parts of America in a report on Wednesday, November 1st. Finally, TheStreet downgraded Motorcar Parts of America from a b- rating to a c rating in a report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Motorcar Parts of America presently has a consensus rating of Hold and an average price target of $34.00.

Shares of Motorcar Parts of America (NASDAQ:MPAA) opened at $23.90 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.74 and a debt-to-equity ratio of 0.05. Motorcar Parts of America has a fifty-two week low of $20.73 and a fifty-two week high of $31.57. The firm has a market capitalization of $469.03, a P/E ratio of 27.79, a PEG ratio of 0.59 and a beta of 0.99.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings results on Friday, February 9th. The auto parts company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.15). Motorcar Parts of America had a return on equity of 13.00% and a net margin of 4.02%. The business had revenue of $100.10 million during the quarter, compared to analysts’ expectations of $113.46 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. research analysts anticipate that Motorcar Parts of America will post 1.81 EPS for the current year.

Motorcar Parts of America declared that its board has approved a stock repurchase program on Friday, February 9th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

In other news, CEO Joffe Selwyn acquired 5,000 shares of Motorcar Parts of America stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $21.00 per share, for a total transaction of $105,000.00. Following the acquisition, the chief executive officer now directly owns 140,271 shares of the company’s stock, valued at approximately $2,945,691. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 6,150 shares of company stock worth $130,386 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC purchased a new position in Motorcar Parts of America during the 4th quarter worth $200,000. HBK Investments L P bought a new stake in Motorcar Parts of America during the 4th quarter valued at $240,000. Goldman Sachs Group Inc. boosted its position in Motorcar Parts of America by 64.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 51,995 shares of the auto parts company’s stock valued at $1,299,000 after acquiring an additional 20,298 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in Motorcar Parts of America during the 4th quarter valued at $277,000. Finally, Kennedy Capital Management Inc. boosted its position in Motorcar Parts of America by 9.4% during the 4th quarter. Kennedy Capital Management Inc. now owns 694,993 shares of the auto parts company’s stock valued at $17,368,000 after acquiring an additional 59,767 shares in the last quarter.

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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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