Motorcar Parts of America (NASDAQ:MPAA) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• MPAA shares moved above their 200-day moving average on Thursday, trading as high as $14.79 versus a 200-day average of $12.04 and last changing hands at $14.37.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average target price of $19.00 after recent ratings updates from Cantor Fitzgerald, Weiss Ratings, and Wall Street Zen.
• Recent earnings topped expectations, as the company reported $0.42 EPS on revenue of $212.28 million, beating Wall Street estimates and improving from a loss of $0.04 EPS in the same quarter last year.

Motorcar Parts of America, Inc. (NASDAQ:MPAA - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.04 and traded as high as $14.79. Motorcar Parts of America shares last traded at $14.37, with a volume of 116,946 shares changing hands.

Wall Street Analyst Weigh In

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

Motorcar Parts of America Stock Performance

The firm has a fifty day simple moving average of $13.10 and a 200-day simple moving average of $12.04. The company has a market cap of $271.88 million, a PE ratio of 26.13 and a beta of 1.14. 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 issued its quarterly earnings data 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 company had revenue of $212.28 million during the quarter, compared to analysts' expectations of $175.96 million. Motorcar Parts of America had a return on equity of 5.53% and a net margin of 1.57%.During the same quarter in the previous year, the business earned ($0.04) earnings per share. On average, research analysts forecast that Motorcar Parts of America, Inc. will post 0.79 EPS for the current fiscal year.

Institutional Trading of Motorcar Parts of America

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased 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 valued at $32,000 after purchasing an additional 2,761 shares during the period. Quarry LP grew its stake in shares of 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 worth $70,000 after purchasing an additional 3,868 shares during the period. State of Alaska Department of Revenue purchased a new position in Motorcar Parts of America in the fourth quarter valued at about $63,000. JPMorgan Chase & Co. increased its stake in Motorcar Parts of America by 7,127.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company's stock valued at $98,000 after purchasing an additional 8,624 shares in the last quarter. Finally, LSV Asset Management purchased a new position in shares of Motorcar Parts of America in the fourth quarter valued at $114,000. 83.48% of the stock is owned by institutional investors and hedge funds.

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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