Motorcar Parts of America (NASDAQ:MPAA) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a buy rating to a hold rating in a report issued on Saturday.

A number of other equities analysts also recently commented on MPAA. Loop Capital set a $20.00 target price on shares of Motorcar Parts of America in a research note on Friday, December 12th. Weiss Ratings raised Motorcar Parts of America from a “sell (d)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Zacks Research upgraded Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.00.

Motorcar Parts of America Stock Performance

Shares of Motorcar Parts of America stock opened at $10.04 on Friday. The business has a 50-day simple moving average of $12.60 and a 200-day simple moving average of $13.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.46 and a current ratio of 1.43. Motorcar Parts of America has a one year low of $8.17 and a one year high of $18.12. The company has a market cap of $192.87 million, a PE ratio of 111.56 and a beta of 1.32.

Motorcar Parts of America announced that its board has authorized a stock buyback plan on Monday, December 8th that permits the company to repurchase $57.00 million in shares. This repurchase authorization permits the auto parts company to repurchase up to 22.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Motorcar Parts of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Motorcar Parts of America by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,076,605 shares of the auto parts company’s stock worth $13,286,000 after acquiring an additional 25,826 shares during the last quarter. Donald Smith & CO. Inc. grew its position in Motorcar Parts of America by 21.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 960,289 shares of the auto parts company’s stock worth $11,850,000 after purchasing an additional 169,979 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its position in Motorcar Parts of America by 3.5% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 692,502 shares of the auto parts company’s stock worth $8,545,000 after purchasing an additional 23,221 shares during the last quarter. RBF Capital LLC increased its stake in Motorcar Parts of America by 4.2% in the second quarter. RBF Capital LLC now owns 539,021 shares of the auto parts company’s stock valued at $6,037,000 after purchasing an additional 21,644 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Motorcar Parts of America by 96.6% in the second quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock valued at $5,667,000 after buying an additional 248,637 shares during the last quarter. Hedge funds and other institutional investors own 83.48% of the company’s stock.

About Motorcar Parts of America

Motorcar Parts of America, Inc is a leading North American designer, manufacturer and distributor of aftermarket automotive replacement parts. The company’s product portfolio spans collision and mechanical components, providing solutions for steering and suspension, brake systems, engine cooling, electrical and drivelines. Through a combination of proprietary brands and exclusive licensing agreements, Motorcar Parts of America offers an extensive selection of both new and remanufactured parts to meet the needs of automotive service professionals and retailers.

In addition to its core collision and under-hood product lines, the company markets specialty items such as performance accessories, tools and equipment.