Motorcar Parts of America (NASDAQ:MPAA) Cut to “Buy” at Wall Street Zen

by · The Markets Daily

Wall Street Zen lowered shares of Motorcar Parts of America (NASDAQ:MPAA – Free Report) from a strong-buy rating to a buy rating in a report issued on Sunday morning.

Other research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Motorcar Parts of America from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Motorcar Parts of America in a research report on Monday, December 1st. Finally, Loop Capital set a $20.00 price target on shares of Motorcar Parts of America in a research note on Friday. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $17.00.

Check Out Our Latest Research Report on MPAA

Motorcar Parts of America Price Performance

MPAA opened at $12.60 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $246.46 million, a P/E ratio of 114.55 and a beta of 1.26. The stock has a 50-day moving average price of $14.60 and a 200-day moving average price of $13.60. 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 share buyback program on Monday, December 8th that permits the company to buyback $57.00 million in shares. This buyback authorization permits the auto parts company to purchase up to 22.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in shares of Motorcar Parts of America by 2,191.3% in the 2nd 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 last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Motorcar Parts of America in the second quarter valued at $45,000. Quarry LP increased its position in Motorcar Parts of America by 1,117.9% during the 3rd quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 3,868 shares during the period. CWM LLC purchased a new position in Motorcar Parts of America during the 3rd quarter valued at $78,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Motorcar Parts of America in the 1st quarter worth $95,000. Institutional investors own 83.48% of the company’s stock.

Motorcar Parts of America Company Profile

(Get Free Report)

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.

Recommended Stories