Motorcar Parts of America (NASDAQ:MPAA – Get Free Report) announced its quarterly earnings results on Monday. The auto parts company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.91), FiscalAI reports. The business had revenue of $168.02 million during the quarter, compared to analysts’ expectations of $183.00 million. Motorcar Parts of America had a net margin of 1.57% and a return on equity of 5.53%.
Motorcar Parts of America Stock Performance
Shares of Motorcar Parts of America stock opened at $13.63 on Monday. The company has a current ratio of 1.46, a quick ratio of 0.47 and a debt-to-equity ratio of 0.15. 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 capitalization of $258.06 million, a PE ratio of 24.78 and a beta of 1.16. The firm’s 50-day moving average price is $13.98 and its 200 day moving average price is $12.16.
Analyst Ratings Changes
MPAA has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Motorcar Parts of America in a research report on Tuesday, June 9th. Weiss Ratings raised Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Finally, Wall Street Zen upgraded Motorcar Parts of America from a “hold” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.
Insider Buying and Selling
In other Motorcar Parts of America news, SVP Jamie Leigh Cook sold 14,074 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $15.03, for a total transaction of $211,532.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.40% of the company’s stock.
Institutional Trading of Motorcar Parts of America
A number of institutional investors have recently made changes to their positions in MPAA. Axxcess Wealth Management LLC purchased a new stake in shares of Motorcar Parts of America during the fourth quarter worth approximately $1,153,000. Empowered Funds LLC lifted its holdings in Motorcar Parts of America by 10.4% in the 4th quarter. Empowered Funds LLC now owns 73,187 shares of the auto parts company’s stock valued at $903,000 after purchasing an additional 6,918 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Motorcar Parts of America by 3.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 193,661 shares of the auto parts company’s stock worth $2,390,000 after purchasing an additional 6,918 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Motorcar Parts of America by 68.4% during the fourth quarter. AQR Capital Management LLC now owns 275,145 shares of the auto parts company’s stock worth $3,395,000 after buying an additional 111,756 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Motorcar Parts of America by 155.9% in the fourth quarter. Lazard Asset Management LLC now owns 120,062 shares of the auto parts company’s stock valued at $1,482,000 after buying an additional 73,147 shares during the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.
Motorcar Parts of America Company Profile
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.
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