Motorcar Parts of America Inc. (NASDAQ:MPAA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued 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. “

Other equities analysts also recently issued research reports about the stock. Roth Capital reissued a “buy” rating on shares of Motorcar Parts of America in a research note on Wednesday, June 15th. B. Riley reissued a “buy” rating and issued a $37.00 price objective on shares of Motorcar Parts of America in a research note on Thursday, August 11th. Finally, TheStreet downgraded shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.83.

Analyst Recommendations for Motorcar Parts of America (NASDAQ:MPAA)

Shares of Motorcar Parts of America (NASDAQ:MPAA) opened at 27.53 on Wednesday. The firm has a market capitalization of $512.88 million, a P/E ratio of 32.66 and a beta of 1.71. Motorcar Parts of America has a 12 month low of $25.50 and a 12 month high of $41.03. The stock has a 50 day moving average price of $28.35 and a 200 day moving average price of $29.91.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.12. The business earned $85.40 million during the quarter, compared to the consensus estimate of $89.72 million. Motorcar Parts of America had a net margin of 4.39% and a return on equity of 19.12%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, analysts expect that Motorcar Parts of America will post $2.36 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in MPAA. Acrospire Investment Management LLC purchased a new position in shares of Motorcar Parts of America during the second quarter worth $106,000. Bank of Montreal Can purchased a new position in shares of Motorcar Parts of America during the second quarter worth $131,000. BNP Paribas Arbitrage SA increased its position in shares of Motorcar Parts of America by 108.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,718 shares of the company’s stock worth $155,000 after buying an additional 2,971 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Motorcar Parts of America by 7.4% in the second quarter. Thrivent Financial for Lutherans now owns 8,950 shares of the company’s stock worth $243,000 after buying an additional 620 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in shares of Motorcar Parts of America by 7.3% in the second quarter. BlackRock Advisors LLC now owns 9,083 shares of the company’s stock worth $247,000 after buying an additional 620 shares in the last quarter.

Motorcar Parts of America Company Profile

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.

5 Day Chart for NASDAQ:MPAA

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