Brokerages Expect Motorcar Parts of America, Inc. (MPAA) Will Announce Quarterly Sales of $120.30 Million

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Equities analysts expect Motorcar Parts of America, Inc. (NASDAQ:MPAA) to post $120.30 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Motorcar Parts of America’s earnings. The highest sales estimate is $123.40 million and the lowest is $117.20 million. Motorcar Parts of America reported sales of $111.77 million during the same quarter last year, which indicates a positive year over year growth rate of 7.6%. The firm is expected to report its next earnings report on Thursday, November 8th.

On average, analysts expect that Motorcar Parts of America will report full-year sales of $472.45 million for the current financial year, with estimates ranging from $471.40 million to $473.50 million. For the next year, analysts anticipate that the company will post sales of $517.10 million, with estimates ranging from $511.50 million to $522.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Motorcar Parts of America.

Motorcar Parts of America (NASDAQ:MPAA) last issued its quarterly earnings data on Thursday, August 9th. The auto parts company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.06). The company had revenue of $92.57 million during the quarter, compared to analysts’ expectations of $95.73 million. Motorcar Parts of America had a net margin of 0.86% and a return on equity of 10.53%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share.

Several research firms have weighed in on MPAA. BidaskClub downgraded Motorcar Parts of America from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine downgraded Motorcar Parts of America from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research raised Motorcar Parts of America from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Thursday, September 13th. Finally, Roth Capital set a $25.00 target price on Motorcar Parts of America and gave the company a “hold” rating in a research report on Sunday, August 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Motorcar Parts of America currently has a consensus rating of “Hold” and an average price target of $30.67.

NASDAQ MPAA traded down $0.23 during trading on Friday, hitting $23.45. The stock had a trading volume of 80,700 shares, compared to its average volume of 196,534. The company has a market cap of $446.80 million, a P/E ratio of 13.79 and a beta of 1.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.46 and a quick ratio of 0.48. Motorcar Parts of America has a twelve month low of $18.09 and a twelve month high of $30.16.

In other news, Director Joseph Edwin Ferguson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $26.45, for a total transaction of $26,450.00. Following the completion of the transaction, the director now directly owns 3,742 shares of the company’s stock, valued at $98,975.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey P. Mirvis sold 12,500 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $25.32, for a total value of $316,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,500 shares of company stock valued at $422,120. Corporate insiders own 4.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in MPAA. Private Capital Management LLC acquired a new position in shares of Motorcar Parts of America during the second quarter worth about $26,854,000. Heartland Advisors Inc. acquired a new position in Motorcar Parts of America in the second quarter valued at approximately $5,145,000. BlackRock Inc. boosted its holdings in Motorcar Parts of America by 6.0% in the second quarter. BlackRock Inc. now owns 2,652,912 shares of the auto parts company’s stock valued at $49,636,000 after purchasing an additional 151,139 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Motorcar Parts of America by 10.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,551,951 shares of the auto parts company’s stock valued at $29,037,000 after purchasing an additional 148,760 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its holdings in Motorcar Parts of America by 34.8% in the first quarter. Global Alpha Capital Management Ltd. now owns 516,898 shares of the auto parts company’s stock valued at $11,077,000 after purchasing an additional 133,400 shares in the last quarter.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy duty trucks, and industrial and agricultural application parts. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; brake master cylinders; and other products, such as turbochargers, brake power boosters, and diagnostic equipment.

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Earnings History and Estimates for Motorcar Parts of America (NASDAQ:MPAA)

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