Motorcar Parts of America (NASDAQ:MPAA) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Motorcar Parts of America from “strong buy” to “hold.” Analysts’ overall consensus is “hold,” with two Buy, one Hold and one Sell rating, and an average price target of $19.
• MPAA reported a quarterly loss of $0.71 per share, missing the $0.20 consensus estimate, while revenue of $168.02 million came below expectations of $183 million.
• The stock opened at $12.46, with a market capitalization of approximately $235.9 million; institutional investors own 83.48% of outstanding shares, while an executive recently sold shares worth about $211,500.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued on Saturday.

Several other equities analysts have also recently commented on MPAA. Cantor Fitzgerald restated an "overweight" rating on shares of Motorcar Parts of America in a research report on Tuesday, June 9th. Weiss Ratings lowered shares of Motorcar Parts of America from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $19.00.

Motorcar Parts of America Stock Performance

MPAA opened at $12.46 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.47 and a current ratio of 1.44. Motorcar Parts of America has a 52-week low of $9.29 and a 52-week high of $18.12. The firm has a market cap of $235.87 million, a P/E ratio of -40.19 and a beta of 1.16. The business's fifty day moving average is $14.16 and its 200-day moving average is $12.14.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The auto parts company reported ($0.71) EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.91). Motorcar Parts of America had a negative net margin of 0.53% and a negative return on equity of 0.57%. The company had revenue of $168.02 million during the quarter, compared to analyst estimates of $183.00 million. Sell-side analysts expect that Motorcar Parts of America will post 1.4 EPS for the current fiscal year.

Insider Activity at Motorcar Parts of America

In related news, SVP Jamie Leigh Cook sold 14,074 shares of the company's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $15.03, for a total transaction of $211,532.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MPAA. BNP Paribas Financial Markets lifted its holdings in shares of Motorcar Parts of America by 2,191.3% in the second quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company's stock worth $32,000 after acquiring an additional 2,761 shares during the last quarter. Quarry LP boosted its stake in shares of 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 purchasing an additional 3,868 shares in the last quarter. State of Wyoming bought a new stake in shares of Motorcar Parts of America during the 2nd quarter valued at approximately $74,000. State of Alaska Department of Revenue bought a new stake in shares of Motorcar Parts of America during the 4th quarter valued at approximately $63,000. Finally, JPMorgan Chase & Co. increased its position 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 worth $98,000 after purchasing an additional 8,624 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source