Motorcar Parts of America (NASDAQ:MPAA) Announces Earnings Results, Beats Expectations By $0.09 EPS

Motorcar Parts of America (NASDAQ:MPAAGet Free Report) issued its quarterly earnings results on Monday. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09, Zacks reports. Motorcar Parts of America had a return on equity of 3.68% and a net margin of 0.25%.

Motorcar Parts of America Stock Performance

MPAA stock opened at $10.59 on Monday. The company has a quick ratio of 0.41, a current ratio of 1.43 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $11.12 and its two-hundred day simple moving average is $11.69. Motorcar Parts of America has a twelve month low of $9.29 and a twelve month high of $18.12. The firm has a market cap of $203.43 million, a price-to-earnings ratio of 117.67 and a beta of 1.21.

Institutional Trading of Motorcar Parts of America

A number of hedge funds and other institutional investors have recently bought and sold shares of MPAA. BNP Paribas Financial Markets increased its stake in Motorcar Parts of America by 2,191.3% in the second quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 2,761 shares during the period. Quarry LP increased its stake in Motorcar Parts of America by 1,117.9% in the third quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 3,868 shares during the period. JPMorgan Chase & Co. increased its stake in Motorcar Parts of America by 7,127.3% in the second quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 8,624 shares during the period. New York State Common Retirement Fund purchased a new stake in Motorcar Parts of America in the second quarter worth $109,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Motorcar Parts of America in the second quarter worth $112,000. Hedge funds and other institutional investors own 83.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Motorcar Parts of America in a research report on Friday, May 8th. Oppenheimer assumed coverage on Motorcar Parts of America in a research report on Friday, March 6th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, Wall Street Zen downgraded Motorcar Parts of America from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Motorcar Parts of America currently has an average rating of “Hold” and an average target price of $19.00.

Read Our Latest Research Report on Motorcar Parts of America

Motorcar Parts of America Company Profile

(Get Free Report)

Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.

In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.

See Also

Earnings History for Motorcar Parts of America (NASDAQ:MPAA)

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