Zacks Investment Research upgraded shares of Motorcar Parts of America, Inc. (NASDAQ:MPAA) from a hold rating to a buy rating in a report published on Friday morning. The firm currently has $30.00 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. “

Several other research firms have also issued reports on MPAA. B. Riley restated a buy rating and issued a $39.00 price target on shares of Motorcar Parts of America in a research report on Monday, June 12th. BidaskClub lowered shares of Motorcar Parts of America from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. TheStreet lowered shares of Motorcar Parts of America from a b- rating to a c rating in a research report on Monday, August 28th. ValuEngine lowered shares of Motorcar Parts of America from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Roth Capital set a $32.00 price target on shares of Motorcar Parts of America and gave the stock a buy rating in a research report on Sunday, August 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $35.00.

Motorcar Parts of America (NASDAQ MPAA) traded down 0.64% during midday trading on Friday, reaching $26.28. The company had a trading volume of 73,699 shares. The company has a market capitalization of $489.73 million, a P/E ratio of 13.62 and a beta of 0.95. The company’s 50 day moving average is $26.53 and its 200-day moving average is $28.32. Motorcar Parts of America has a 52-week low of $21.75 and a 52-week high of $31.57.

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

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In other Motorcar Parts of America news, VP Douglas Earl Schooner sold 1,192 shares of Motorcar Parts of America stock in a transaction that occurred 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 transaction, the vice president now owns 4,235 shares in the company, valued at $120,993.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rudolph J. Borneo sold 3,000 shares of Motorcar Parts of America stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $27.49, for a total transaction of $82,470.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $82,470. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,531 shares of company stock worth $267,616. 4.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its position in 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 worth $43,538,000 after buying an additional 119,322 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Motorcar Parts of America by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,076,980 shares of the auto parts company’s stock worth $30,414,000 after purchasing an additional 123,693 shares during the period. Vanguard Group Inc. boosted its stake in Motorcar Parts of America by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,005,058 shares of the auto parts company’s stock worth $28,383,000 after purchasing an additional 11,783 shares during the period. FMR LLC boosted its stake in Motorcar Parts of America by 0.6% in the 1st quarter. FMR LLC now owns 981,349 shares of the auto parts company’s stock worth $30,157,000 after purchasing an additional 5,400 shares during the period. Finally, Royal Bank of Canada boosted its stake in Motorcar Parts of America by 533.9% in the 2nd quarter. Royal Bank of Canada now owns 835,139 shares of the auto parts company’s stock worth $23,584,000 after purchasing an additional 703,390 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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