Zacks: Brokerages Anticipate Motorcar Parts of America, Inc. (MPAA) Will Post Earnings of $0.54 Per Share

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Wall Street brokerages predict that Motorcar Parts of America, Inc. (NASDAQ:MPAA) will announce $0.54 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Motorcar Parts of America’s earnings, with estimates ranging from $0.48 to $0.60. Motorcar Parts of America posted earnings of $0.50 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 8%. The business is expected to announce its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Motorcar Parts of America will report full year earnings of $2.06 per share for the current year, with EPS estimates ranging from $2.05 to $2.07. For the next year, analysts expect that the firm will report earnings of $2.49 per share, with EPS estimates ranging from $2.47 to $2.50. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Motorcar Parts of America.

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

Several equities research analysts recently weighed in on the company. BidaskClub raised Motorcar Parts of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. ValuEngine raised Motorcar Parts of America from a “sell” rating to a “hold” rating in a report on Monday, August 20th. Zacks Investment Research raised Motorcar Parts of America from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Thursday, September 13th. Finally, Roth Capital set a $25.00 price objective on Motorcar Parts of America and gave the company a “hold” rating in a report on Sunday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Motorcar Parts of America currently has a consensus rating of “Hold” and a consensus target price of $30.67.

Shares of MPAA stock opened at $25.80 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.48 and a current ratio of 1.46. Motorcar Parts of America has a fifty-two week low of $18.09 and a fifty-two week high of $30.16. The firm has a market capitalization of $474.98 million, a price-to-earnings ratio of 15.18 and a beta of 1.82.

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

Large investors have recently made changes to their positions in the stock. Voce Capital Management LLC raised its position in Motorcar Parts of America by 93.9% during the 1st quarter. Voce Capital Management LLC now owns 186,764 shares of the auto parts company’s stock worth $4,002,000 after purchasing an additional 90,421 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in Motorcar Parts of America by 34.8% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 516,898 shares of the auto parts company’s stock worth $11,077,000 after purchasing an additional 133,400 shares during the last quarter. Heartland Advisors Inc. bought a new position in Motorcar Parts of America during the 2nd quarter worth $5,145,000. Royal Bank of Canada raised its position in Motorcar Parts of America by 6.7% during the 1st quarter. Royal Bank of Canada now owns 1,026,189 shares of the auto parts company’s stock worth $21,992,000 after purchasing an additional 64,607 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Motorcar Parts of America by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 146,199 shares of the auto parts company’s stock worth $3,133,000 after purchasing an additional 3,499 shares during the last quarter.

About Motorcar Parts of America

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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