Today: Zacks Investment Research Lowers Motorcar Parts of America Inc. (MPAA) to Hold

Today: Zacks Investment Research Lowers Motorcar Parts of America Inc. (MPAA) to Hold

Zacks Investment Research downgraded shares of Motorcar Parts of America Inc. (NASDAQ:MPAA) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Mototcar Parts & Accessories Inc. is a leading manufacturer of replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. The company’s full line of alternators and starters are remanufactured for vehicles imported from Japan, Germany, Sweden, France and Korea. The imported vehicles for which the company remanufactures alternators and starters also include vehicles produced by GM, Chrysler and Ford. The company also assembles and distributes ignition wire sets for imported and domestic cars and light trucks. “

Several other research analysts have also recently weighed in on MPAA. Roth Capital restated a buy rating on shares of Motorcar Parts of America in a research note on Wednesday, June 15th. TheStreet cut Motorcar Parts of America from a buy rating to a hold rating in a research report on Tuesday, June 14th. Finally, B. Riley reiterated a buy rating and set a $37.00 price objective on shares of Motorcar Parts of America in a research report on Saturday, June 18th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Motorcar Parts of America has an average rating of Buy and an average price target of $40.83.

Shares of Motorcar Parts of America (NASDAQ:MPAA) traded down 0.45% on Wednesday, reaching $26.54. The company’s stock had a trading volume of 4,186 shares. The company’s 50-day moving average is $28.32 and its 200 day moving average is $29.80. Motorcar Parts of America has a 12-month low of $25.50 and a 12-month high of $41.03. The company has a market capitalization of $494.44 million, a price-to-earnings ratio of 31.48 and a beta of 1.71.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.12. Motorcar Parts of America had a return on equity of 19.12% and a net margin of 4.39%. The firm earned $85.40 million during the quarter, compared to analysts’ expectations of $89.72 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Equities analysts anticipate that Motorcar Parts of America will post $2.36 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the company. Aperio Group LLC bought a new stake in shares of Motorcar Parts of America during the first quarter worth approximately $261,000. Prudential Financial Inc. boosted its stake in shares of Motorcar Parts of America by 3.3% in the first quarter. Prudential Financial Inc. now owns 44,300 shares of the company’s stock worth $1,683,000 after buying an additional 1,400 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Motorcar Parts of America by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 466,025 shares of the company’s stock worth $17,700,000 after buying an additional 7,266 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Motorcar Parts of America by 141.0% in the first quarter. Royce & Associates LP now owns 108,700 shares of the company’s stock worth $4,128,000 after buying an additional 63,600 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its stake in shares of Motorcar Parts of America by 4.9% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 684,425 shares of the company’s stock worth $25,994,000 after buying an additional 31,800 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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