Motorcar Parts of America (NASDAQ:MPAA) Releases Quarterly Earnings Results, Misses Estimates By $0.91 EPS

Key Points

• Motorcar Parts of America reported a quarterly loss of $0.71 per share, missing the $0.20 analyst consensus by $0.91. Revenue was $168.02 million, below expectations of $183.00 million.
• MPAA opened at $13.63, with a market capitalization of approximately $258 million and a 12-month trading range of $9.29 to $18.12.
• Analysts maintain a “Moderate Buy” consensus rating with a $19.00 price target, while institutional investors own 83.48% of the company; an executive recently sold 14,074 shares.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report) posted its quarterly earnings data on Monday. The auto parts company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.91), FiscalAI reports. The company had revenue of $168.02 million for the quarter, compared to analyst estimates of $183.00 million. Motorcar Parts of America had a net margin of 1.57% and a return on equity of 5.53%.

Motorcar Parts of America Stock Performance

MPAA opened at $13.63 on Monday. Motorcar Parts of America has a 12-month low of $9.29 and a 12-month high of $18.12. The company has a current ratio of 1.46, a quick ratio of 0.47 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $258.06 million, a PE ratio of 24.78 and a beta of 1.16. The firm has a 50 day moving average of $13.98 and a two-hundred day moving average of $12.16.

Insider Buying and Selling at Motorcar Parts of America

In related news, SVP Jamie Leigh Cook sold 14,074 shares of the firm's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $15.03, for a total transaction of $211,532.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Motorcar Parts of America

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings 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 valued at $32,000 after buying an additional 2,761 shares during the period. Quarry LP boosted 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 worth $70,000 after purchasing an additional 3,868 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 during the period. New York State Common Retirement Fund purchased a new position in shares of Motorcar Parts of America during the 2nd quarter valued at approximately $109,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Motorcar Parts of America in the 2nd quarter valued at $112,000. 83.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Motorcar Parts of America from a "hold" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Motorcar Parts of America in a research note on Tuesday, June 9th. Finally, Weiss Ratings raised shares of Motorcar Parts of America from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Motorcar Parts of America Company Profile

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.

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