Zacks Investment Research upgraded shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $29.00 price target 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 several other reports. Roth Capital set a $32.00 price target on Motorcar Parts of America and gave the company a buy rating in a research report on Sunday, August 20th. ValuEngine cut 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. FBR & Co reissued an outperform rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a report on Tuesday, July 18th. Finally, B. Riley reissued a buy rating and issued a $39.00 price objective on shares of Motorcar Parts of America in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $34.75.

Motorcar Parts of America (NASDAQ:MPAA) opened at 27.09 on Wednesday. The company has a market capitalization of $504.82 million, a P/E ratio of 14.04 and a beta of 0.95. Motorcar Parts of America has a 52 week low of $21.75 and a 52 week high of $31.57. The company’s 50 day moving average price is $26.78 and its 200-day moving average price is $28.38.

Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $95.06 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. Equities research analysts expect that Motorcar Parts of America will post $2.38 earnings per share for the current year.

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

A number of hedge funds have recently modified their holdings of MPAA. Cadence Capital Management LLC raised its stake 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 buying an additional 2,001 shares during the last quarter. FNY Partners Fund LP acquired a new stake in shares of Motorcar Parts of America during the first quarter valued at approximately $230,000. B. Riley Financial Inc. raised its stake in shares of 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 valued at $574,000 after buying an additional 8,730 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Motorcar Parts of America by 9.2% in the first quarter. Ameriprise Financial Inc. now owns 1,416,761 shares of the auto parts company’s stock valued at $43,538,000 after buying an additional 119,322 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake 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 valued at $234,000 after buying an additional 100 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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