Motorcar Parts of America (MPAA) Now Covered by Craig Hallum

Craig Hallum assumed coverage on shares of Motorcar Parts of America (NASDAQ:MPAA) in a research report report published on Tuesday morning. The firm issued a buy rating and a $28.00 price objective on the auto parts company’s stock.

A number of other equities analysts have also weighed in on the company. ValuEngine upgraded Motorcar Parts of America from a strong sell rating to a sell rating in a research note on Sunday, October 28th. CL King cut Motorcar Parts of America from a buy rating to a neutral rating in a report on Friday, November 9th. BidaskClub cut Motorcar Parts of America from a hold rating to a sell rating in a report on Thursday, September 27th. Finally, Zacks Investment Research cut Motorcar Parts of America from a strong-buy rating to a hold rating in a report on Saturday, October 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Motorcar Parts of America has an average rating of Hold and an average price target of $30.00.

NASDAQ MPAA traded up $0.32 during trading on Tuesday, reaching $20.08. The company’s stock had a trading volume of 9,430 shares, compared to its average volume of 229,805. The firm has a market capitalization of $381.64 million, a P/E ratio of 11.81 and a beta of 1.38. The company has a quick ratio of 0.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.10. Motorcar Parts of America has a one year low of $12.09 and a one year high of $28.98.

Motorcar Parts of America (NASDAQ:MPAA) last announced its earnings results on Tuesday, January 8th. The auto parts company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The business had revenue of $127.94 million for the quarter, compared to analyst estimates of $120.63 million. Motorcar Parts of America had a return on equity of 10.53% and a net margin of 0.86%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. As a group, research analysts anticipate that Motorcar Parts of America will post 1.91 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in shares of Motorcar Parts of America by 1.3% in the 3rd quarter. Wells Fargo & Company MN now owns 210,304 shares of the auto parts company’s stock worth $4,932,000 after purchasing an additional 2,634 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Motorcar Parts of America by 3.7% during the 3rd quarter. Victory Capital Management Inc. now owns 75,100 shares of the auto parts company’s stock valued at $1,761,000 after acquiring an additional 2,700 shares during the period. Legal & General Group Plc boosted its holdings in Motorcar Parts of America by 7.3% during the 3rd quarter. Legal & General Group Plc now owns 39,992 shares of the auto parts company’s stock valued at $941,000 after acquiring an additional 2,715 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Motorcar Parts of America by 3.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 99,059 shares of the auto parts company’s stock valued at $1,854,000 after acquiring an additional 3,207 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Motorcar Parts of America by 18.0% during the 2nd quarter. First Trust Advisors LP now owns 21,616 shares of the auto parts company’s stock valued at $404,000 after acquiring an additional 3,295 shares during the period.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy duty trucks, and industrial and agricultural application parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers, brake power boosters, and diagnostic equipment.

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