Motorcar Parts of America (NASDAQ:MPAA) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Motorcar Parts of America, Inc. (NASDAQ:MPAA)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.04 and traded as high as $14.79. Motorcar Parts of America shares last traded at $14.37, with a volume of 116,946 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MPAA shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Motorcar Parts of America in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Finally, Wall Street Zen raised Motorcar Parts of America from a “hold” rating to a “strong-buy” rating in a report on Saturday, June 13th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Motorcar Parts of America Stock Performance

The company has a market cap of $264.88 million, a PE ratio of 25.46 and a beta of 1.14. The stock has a 50 day simple moving average of $13.15 and a two-hundred day simple moving average of $12.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.46 and a quick ratio of 0.47.

Motorcar Parts of America (NASDAQ:MPAA) last announced its earnings results on Monday, June 8th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. The business had revenue of $212.28 million for the quarter, compared to analyst estimates of $175.96 million. Motorcar Parts of America had a net margin of 1.57% and a return on equity of 5.53%. During the same period last year, the firm posted ($0.04) earnings per share. Equities analysts predict that Motorcar Parts of America, Inc. will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Motorcar Parts of America by 2,191.3% during the second quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock worth $32,000 after buying an additional 2,761 shares during the period. State of Alaska Department of Revenue acquired a new position in Motorcar Parts of America in the 4th quarter valued at about $63,000. Quarry LP increased its position in Motorcar Parts of America by 1,117.9% in the 3rd quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock valued at $70,000 after acquiring an additional 3,868 shares during the period. JPMorgan Chase & Co. raised its stake in Motorcar Parts of America by 7,127.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company’s stock valued at $98,000 after acquiring an additional 8,624 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in Motorcar Parts of America during the 2nd quarter valued at approximately $109,000. 83.48% of the stock is currently owned by institutional investors and hedge funds.

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.