Motorcar Parts of America (NASDAQ:MPAA) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Motorcar Parts of America (NASDAQ: MPAA) shares moved above their 200-day moving average, trading as high as $13.86 and last changing hands at $13.79, up about 1.8% on the day.
• Recent analyst activity has been positive, with Cantor Fitzgerald reiterating an overweight rating and Wall Street Zen upgrading the stock to strong-buy. The consensus rating remains Moderate Buy with a $19.00 price target.
• The company’s latest earnings beat expectations, reporting $0.42 EPS versus the $0.33 estimate and revenue of $212.28 million versus the expected $175.96 million. Institutional ownership is also high, with hedge funds and other investors holding 83.48% of shares.

Motorcar Parts of America, Inc. (NASDAQ:MPAA - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.11 and traded as high as $13.86. Motorcar Parts of America shares last traded at $13.79, with a volume of 75,113 shares changing hands.

Wall Street Analysts Forecast Growth

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

Motorcar Parts of America Trading Up 1.8%

The firm has a market capitalization of $260.91 million, a PE ratio of 25.07 and a beta of 1.14. The company's 50-day simple moving average is $13.41 and its 200 day simple moving average is $12.11. The company has a quick ratio of 0.47, a current ratio of 1.46 and a debt-to-equity ratio of 0.15.

Motorcar Parts of America (NASDAQ:MPAA - Get Free Report) last released its quarterly earnings results on Monday, June 8th. The auto parts company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.09. The business had revenue of $212.28 million for the quarter, compared to analysts' expectations 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 business earned ($0.04) EPS. As a group, sell-side analysts expect that Motorcar Parts of America, Inc. will post 1.28 EPS for the current year.

Hedge Funds Weigh In On Motorcar Parts of America

Several institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its position in shares of Motorcar Parts of America by 21.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 960,289 shares of the auto parts company's stock worth $11,850,000 after purchasing an additional 169,979 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Motorcar Parts of America by 850.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 83,082 shares of the auto parts company's stock worth $1,374,000 after buying an additional 74,337 shares during the last quarter. Azarias Capital Management L.P. increased its position in Motorcar Parts of America by 146.2% during the 1st quarter. Azarias Capital Management L.P. now owns 532,869 shares of the auto parts company's stock valued at $5,894,000 after buying an additional 316,461 shares in the last quarter. Equitable Trust Co. increased its position in Motorcar Parts of America by 8.3% during the 1st quarter. Equitable Trust Co. now owns 58,492 shares of the auto parts company's stock valued at $647,000 after buying an additional 4,492 shares in the last quarter. Finally, RBF Capital LLC increased its position in Motorcar Parts of America by 3.4% during the 4th quarter. RBF Capital LLC now owns 324,551 shares of the auto parts company's stock valued at $4,005,000 after buying an additional 10,530 shares in the last quarter. 83.48% of the stock is owned by hedge funds and other institutional investors.

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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