Motorcar Parts of America, Inc. (MPAA) Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) from a sell rating to a strong sell rating in a research note published on Tuesday morning.

Several other analysts have also recently weighed in on the company. Roth Capital set a $31.00 price target on Motorcar Parts of America and gave the stock a buy rating in a report on Tuesday, June 13th. ValuEngine cut Motorcar Parts of America from a buy rating to a hold rating in a report on Friday, June 2nd. FBR & Co restated an outperform rating and set a $39.00 price target on shares of Motorcar Parts of America in a report on Tuesday, July 18th. Zacks Investment Research cut Motorcar Parts of America from a hold rating to a sell rating in a report on Tuesday, June 13th. Finally, B. Riley restated a buy rating and set a $39.00 price target on shares of Motorcar Parts of America in a report on Saturday, June 17th. Two investment 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. The company presently has an average rating of Hold and an average target price of $35.75.

Shares of Motorcar Parts of America (NASDAQ MPAA) traded down 0.96% during midday trading on Tuesday, reaching $26.92. 78,229 shares of the company’s stock were exchanged. Motorcar Parts of America has a 12 month low of $21.75 and a 12 month high of $31.57. The company’s 50 day moving average is $27.63 and its 200-day moving average is $28.46. The stock has a market cap of $501.65 million, a PE ratio of 13.95 and a beta of 0.94.

Motorcar Parts of America (NASDAQ:MPAA) last released its earnings results on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.04. Motorcar Parts of America had a return on equity of 16.77% and a net margin of 8.75%. The firm had revenue of $95.06 million for the quarter, compared to analysts’ expectations of $93.60 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities analysts forecast that Motorcar Parts of America will post $2.38 EPS for the current fiscal year.

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In other news, VP Douglas Earl Schooner sold 1,192 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $28.57, for a total transaction of $34,055.44. Following the sale, the vice president now directly owns 4,235 shares in the company, valued at $120,993.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rudolph J. Borneo sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $27.49, for a total value of $82,470.00. Following the sale, the director now owns 3,000 shares in the company, valued at $82,470. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,531 shares of company stock worth $267,616. Company insiders own 4.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Motorcar Parts of America by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,076,980 shares of the auto parts company’s stock valued at $30,414,000 after buying an additional 123,693 shares during the period. Citadel Advisors LLC bought a new stake in shares of Motorcar Parts of America during the second quarter valued at approximately $485,000. Parametric Portfolio Associates LLC boosted its stake in shares of Motorcar Parts of America by 26.2% in the second quarter. Parametric Portfolio Associates LLC now owns 22,668 shares of the auto parts company’s stock valued at $640,000 after buying an additional 4,705 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Motorcar Parts of America by 1.2% in the second quarter. Vanguard Group Inc. now owns 1,005,058 shares of the auto parts company’s stock valued at $28,383,000 after buying an additional 11,783 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Motorcar Parts of America by 6.7% in the second quarter. Northern Trust Corp now owns 272,580 shares of the auto parts company’s stock valued at $7,698,000 after buying an additional 17,149 shares during 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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