Zacks Investment Research upgraded shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) from a sell rating to a hold rating in a report issued on Wednesday morning. Zacks Investment Research currently has $28.00 price objective 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. “

MPAA has been the subject of a number of other reports. Roth Capital set a $31.00 price target on Motorcar Parts of America and gave the stock a buy rating in a report on Tuesday, June 13th. ValuEngine lowered Motorcar Parts of America from a buy rating to a hold rating in a report on Friday, June 2nd. BidaskClub upgraded Motorcar Parts of America from a sell rating to a hold rating in a report on Wednesday, July 19th. FBR & Co reiterated an outperform rating and set a $39.00 price target on shares of Motorcar Parts of America in a report on Tuesday, July 18th. Finally, B. Riley reiterated a buy rating and set a $39.00 price target on shares of Motorcar Parts of America in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Motorcar Parts of America currently has a consensus rating of Hold and an average target price of $34.25.

Shares of Motorcar Parts of America (NASDAQ:MPAA) opened at 24.74 on Wednesday. The firm has a market cap of $461.03 million, a P/E ratio of 12.82 and a beta of 0.94. Motorcar Parts of America has a 52-week low of $21.75 and a 52-week high of $31.57. The stock’s 50 day moving average is $27.24 and its 200-day moving average is $28.42.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Motorcar Parts of America had a return on equity of 16.77% and a net margin of 8.75%. The company had revenue of $95.06 million during the quarter, compared to analyst estimates of $93.60 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts anticipate that Motorcar Parts of America will post $2.38 earnings per share for the current fiscal year.

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In related news, Director Rudolph J. Borneo sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $27.49, for a total value of $82,470.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $82,470. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Douglas Earl Schooner sold 1,192 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $28.57, for a total value of $34,055.44. Following the completion of the transaction, the vice president now owns 4,235 shares of the company’s stock, valued at $120,993.95. The disclosure for this sale can be found here. Insiders sold 9,531 shares of company stock valued at $267,616 over the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System raised its position 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 last quarter. Rice Hall James & Associates LLC purchased a new position in shares of Motorcar Parts of America during the first quarter worth approximately $1,994,000. Northpointe Capital LLC purchased a new position in shares of Motorcar Parts of America during the first quarter worth approximately $2,120,000. River Road Asset Management LLC raised its position in shares of Motorcar Parts of America by 20.1% in the first quarter. River Road Asset Management LLC now owns 1,038,723 shares of the auto parts company’s stock worth $31,920,000 after buying an additional 173,680 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in shares of Motorcar Parts of America by 32.4% in the first quarter. Granite Investment Partners LLC now owns 176,474 shares of the auto parts company’s stock worth $5,423,000 after buying an additional 43,138 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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