Motorcar Parts of America, Inc. (NASDAQ:MPAA) Stock Rating Upgraded by Zacks Investment …

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Zacks Investment Research upgraded shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) from a hold rating to a buy rating in a research note published on Saturday, September 16th. The firm currently has $31.00 target price on the auto parts company’s stock.

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. “

A number of other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Motorcar Parts of America from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub raised Motorcar Parts of America from a sell rating to a hold rating in a report on Wednesday, July 19th. B. Riley reaffirmed a buy rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a report on Saturday, June 17th. FBR & Co reiterated an outperform rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a research note on Tuesday, July 18th. Finally, Roth Capital set a $31.00 target price on shares of Motorcar Parts of America and gave the company a buy rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $35.50.

Shares of Motorcar Parts of America (NASDAQ:MPAA) traded down 2.92% during trading on Friday, hitting $28.60. 173,567 shares of the stock traded hands. Motorcar Parts of America has a 1-year low of $21.75 and a 1-year high of $31.57. The company has a market cap of $532.96 million, a P/E ratio of 14.82 and a beta of 0.98. The stock has a 50-day moving average of $26.80 and a 200 day moving average of $28.26.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings data on Wednesday, August 9th. The auto parts company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $95.06 million during the quarter, compared to the consensus estimate of $93.60 million. Motorcar Parts of America had a return on equity of 16.77% and a net margin of 8.75%. Motorcar Parts of America’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. On average, equities research analysts predict that Motorcar Parts of America will post $2.38 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of MPAA. Cadence Capital Management LLC lifted its position in shares of Motorcar Parts of America by 4.4% in the first quarter. Cadence Capital Management LLC now owns 47,151 shares of the auto parts company’s stock valued at $1,449,000 after acquiring an additional 2,001 shares in the last quarter. FNY Partners Fund LP purchased a new stake in Motorcar Parts of America during the 1st quarter valued at $230,000. B. Riley Financial Inc. lifted its position in Motorcar Parts of America by 87.9% in the first quarter. B. Riley Financial Inc. now owns 18,663 shares of the auto parts company’s stock worth $574,000 after buying an additional 8,730 shares during the last quarter. Bank of America Corp DE boosted its stake in Motorcar Parts of America by 76.3% during the first quarter. Bank of America Corp DE now owns 38,389 shares of the auto parts company’s stock worth $1,180,000 after buying an additional 16,610 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Motorcar Parts of America by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the auto parts company’s stock worth $234,000 after buying an additional 100 shares during the period.

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 appl

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. “

A number of other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Motorcar Parts of America from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub raised Motorcar Parts of America from a sell rating to a hold rating in a report on Wednesday, July 19th. B. Riley reaffirmed a buy rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a report on Saturday, June 17th. FBR & Co reiterated an outperform rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a research note on Tuesday, July 18th. Finally, Roth Capital set a $31.00 target price on shares of Motorcar Parts of America and gave the company a buy rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $35.50.

Shares of Motorcar Parts of America (NASDAQ:MPAA) traded down 2.92% during trading on Friday, hitting $28.60. 173,567 shares of the stock traded hands. Motorcar Parts of America has a 1-year low of $21.75 and a 1-year high of $31.57. The company has a market cap of $532.96 million, a P/E ratio of 14.82 and a beta of 0.98. The stock has a 50-day moving average of $26.80 and a 200 day moving average of $28.26.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings data on Wednesday, August 9th. The auto parts company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $95.06 million during the quarter, compared to the consensus estimate of $93.60 million. Motorcar Parts of America had a return on equity of 16.77% and a net margin of 8.75%. Motorcar Parts of America’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. On average, equities research analysts predict that Motorcar Parts of America will post $2.38 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/03/motorcar-parts-of-america-inc-mpaa-stock-rating-upgraded-by-zacks-investment-research-2.html.

A number of hedge funds have recently modified their holdings of MPAA. Cadence Capital Management LLC lifted its position in shares of Motorcar Parts of America by 4.4% in the first quarter. Cadence Capital Management LLC now owns 47,151 shares of the auto parts company’s stock valued at $1,449,000 after acquiring an additional 2,001 shares in the last quarter. FNY Partners Fund LP purchased a new stake in Motorcar Parts of America during the 1st quarter valued at $230,000. B. Riley Financial Inc. lifted its position in Motorcar Parts of America by 87.9% in the first quarter. B. Riley Financial Inc. now owns 18,663 shares of the auto parts company’s stock worth $574,000 after buying an additional 8,730 shares during the last quarter. Bank of America Corp DE boosted its stake in Motorcar Parts of America by 76.3% during the first quarter. Bank of America Corp DE now owns 38,389 shares of the auto parts company’s stock worth $1,180,000 after buying an additional 16,610 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Motorcar Parts of America by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the auto parts company’s stock worth $234,000 after buying an additional 100 shares during the period.

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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