Motorcar Parts of America (NASDAQ:MPAA) Stock Gets Downgrade from Zacks Research

Key Points

• Zacks Research downgraded Motorcar Parts of America from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with an average price target of $18.00.
• The stock opened at $10.59, near its 12-month low of $9.29 and below its 50-day and 200-day moving averages of $11.38 and $12.18, respectively.
• The company reported a quarterly loss of $0.71 per share, missing expectations by $0.91, while revenue of $168.02 million also fell short of the $183 million estimate.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday, Zacks reports.

Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered Motorcar Parts of America from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 25th. Wall Street Zen downgraded Motorcar Parts of America from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Raymond James Financial set a $16.00 price target on Motorcar Parts of America in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $18.00.

Motorcar Parts of America Price Performance

NASDAQ:MPAA opened at $10.59 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.39 and a current ratio of 1.44. The firm has a 50-day moving average price of $11.38 and a two-hundred day moving average price of $12.18. Motorcar Parts of America has a twelve month low of $9.29 and a twelve month high of $18.12.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The auto parts company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.91). The business had revenue of $168.02 million during the quarter, compared to analysts' expectations of $183.00 million. Motorcar Parts of America had a negative net margin of 0.53% and a negative return on equity of 0.57%. Analysts expect that Motorcar Parts of America will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of Motorcar Parts of America

A number of hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. purchased a new stake in Motorcar Parts of America in the 2nd quarter worth approximately $18,965,000. BlackRock Inc. purchased a new position in shares of Motorcar Parts of America during the 2nd quarter worth $16,152,000. Dimensional Fund Advisors LP lifted its stake in shares of Motorcar Parts of America by 5.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,133,796 shares of the auto parts company's stock worth $12,540,000 after purchasing an additional 57,191 shares during the period. Azarias Capital Management L.P. boosted its holdings in shares of Motorcar Parts of America by 146.2% during the first quarter. Azarias Capital Management L.P. now owns 532,869 shares of the auto parts company's stock worth $5,894,000 after purchasing an additional 316,461 shares during the last quarter. Finally, RBF Capital LLC boosted its holdings in shares of Motorcar Parts of America by 3.4% during the fourth quarter. RBF Capital LLC now owns 324,551 shares of the auto parts company's stock worth $4,005,000 after purchasing an additional 10,530 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company's stock.

About Motorcar Parts of America

Motorcar Parts of America, Inc designs, manufactures, remanufactures and distributes automotive replacement parts for the aftermarket. Its product offerings primarily include rotating electrical components such as alternators and starters, along with brake-related products and other replacement parts used in passenger vehicles, light trucks and other applications.

The company sells products under several brand names, including Quality-Built, Pure Energy and DuraGo, and also supplies private-label products to automotive parts distributors and retailers.

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