Motorcar Parts of America (NASDAQ:MPAA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a buy rating to a strong-buy rating in a report published on Saturday.

A number of other brokerages also recently commented on MPAA. Zacks Research downgraded Motorcar Parts of America from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Motorcar Parts of America in a research report on Monday, December 1st. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $14.00.

Motorcar Parts of America Stock Performance

Shares of MPAA stock opened at $13.22 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.46 and a quick ratio of 0.46. The company’s fifty day moving average price is $14.94 and its two-hundred day moving average price is $13.51. The firm has a market capitalization of $258.58 million, a P/E ratio of 120.18 and a beta of 1.26. Motorcar Parts of America has a 12 month low of $5.38 and a 12 month high of $18.12.

Motorcar Parts of America announced that its board has authorized a stock repurchase program on Monday, December 8th that allows the company to buyback $57.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy up to 22.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Motorcar Parts of America

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in Motorcar Parts of America during the 1st quarter worth $183,000. Informed Momentum Co LLC acquired a new position in shares of Motorcar Parts of America during the first quarter valued at $982,000. Goldman Sachs Group Inc. boosted its holdings in shares of Motorcar Parts of America by 294.3% during the first quarter. Goldman Sachs Group Inc. now owns 105,432 shares of the auto parts company’s stock valued at $1,002,000 after acquiring an additional 78,695 shares during the period. American Century Companies Inc. grew its position in shares of Motorcar Parts of America by 22.9% during the first quarter. American Century Companies Inc. now owns 260,105 shares of the auto parts company’s stock worth $2,471,000 after acquiring an additional 48,386 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of Motorcar Parts of America by 139.4% in the 2nd quarter. Ritholtz Wealth Management now owns 90,418 shares of the auto parts company’s stock worth $1,013,000 after acquiring an additional 52,654 shares during the period. 83.48% of the stock is owned by institutional investors.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.