Zacks Investment Research lowered shares of Motorcar Parts of America (NASDAQ:MPAA) from a hold rating to a sell rating in a research note released on Thursday.

According to Zacks, “Motorcar Parts of America, Inc. is a remanufacturer, manufacturer and distributor of automotive aftermarket parts — including alternators, starters, wheel bearing and hub assemblies, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications. In addition, the company designs and manufactures test equipment for performance, endurance and production testing of alternators, starters, electric motors, inverters and belt starter generators for both the OE and aftermarket. Motorcar Parts of America’s products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada, with facilities located in California, Mexico, Malaysia and China, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia and Canada. Motorcar Parts of America, Inc. is headquartered in Torrance, CA. “

A number of other brokerages have also weighed in on MPAA. B. Riley reiterated a buy rating on shares of Motorcar Parts of America in a research report on Wednesday, November 1st. TheStreet lowered Motorcar Parts of America from a b- rating to a c rating in a research report on Tuesday, December 5th. ValuEngine lowered Motorcar Parts of America from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, BidaskClub upgraded Motorcar Parts of America from a sell rating to a hold rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $35.50.

Motorcar Parts of America (NASDAQ:MPAA) opened at $22.01 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. Motorcar Parts of America has a 1 year low of $20.94 and a 1 year high of $31.57. The stock has a market capitalization of $419.73, a P/E ratio of 12.72, a P/E/G ratio of 0.48 and a beta of 0.99.

Motorcar Parts of America (NASDAQ:MPAA) last posted its quarterly earnings results on Friday, February 9th. The auto parts company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.15). Motorcar Parts of America had a return on equity of 15.15% and a net margin of 8.03%. The company had revenue of $100.10 million for the quarter, compared to the consensus estimate of $113.46 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. Motorcar Parts of America’s revenue was down 11.1% compared to the same quarter last year. analysts predict that Motorcar Parts of America will post 2.01 earnings per share for the current year.

Motorcar Parts of America announced that its Board of Directors has authorized a share buyback program on Friday, February 9th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Several hedge funds have recently modified their holdings of the company. Citadel Advisors LLC grew its position in shares of Motorcar Parts of America by 53.4% in the 4th quarter. Citadel Advisors LLC now owns 68,208 shares of the auto parts company’s stock worth $1,705,000 after buying an additional 23,754 shares during the last quarter. BlackRock Inc. grew its position in shares of Motorcar Parts of America by 3.7% in the 4th quarter. BlackRock Inc. now owns 2,439,954 shares of the auto parts company’s stock worth $60,974,000 after buying an additional 88,097 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Motorcar Parts of America by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 252,597 shares of the auto parts company’s stock worth $6,311,000 after buying an additional 7,999 shares during the last quarter. Rhumbline Advisers grew its position in shares of Motorcar Parts of America by 18.3% in the 4th quarter. Rhumbline Advisers now owns 43,742 shares of the auto parts company’s stock worth $1,093,000 after buying an additional 6,777 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Motorcar Parts of America by 230.5% in the 4th quarter. Arizona State Retirement System now owns 32,054 shares of the auto parts company’s stock worth $801,000 after buying an additional 22,354 shares during the last quarter.

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Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications.

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