Motorcar Parts of America (NASDAQ:MPAA) Given New $31.00 Price Target at B. Riley

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Motorcar Parts of America (NASDAQ:MPAA) had its price objective lowered by B. Riley from $39.00 to $31.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the auto parts company’s stock. B. Riley also issued estimates for Motorcar Parts of America’s Q4 2020 earnings at $0.47 EPS, FY2020 earnings at $1.40 EPS, Q1 2021 earnings at $0.23 EPS, Q2 2021 earnings at $0.63 EPS, Q3 2021 earnings at $0.46 EPS, Q4 2021 earnings at $0.60 EPS and FY2021 earnings at $1.93 EPS.

Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Motorcar Parts of America from a buy rating to a hold rating in a research report on Wednesday, January 15th. Roth Capital raised their price objective on shares of Motorcar Parts of America from $17.00 to $25.00 and gave the company a buy rating in a research report on Wednesday, November 13th. BidaskClub downgraded shares of Motorcar Parts of America from a buy rating to a hold rating in a research report on Friday, January 31st. TheStreet raised shares of Motorcar Parts of America from a d+ rating to a c- rating in a research note on Monday, November 4th. Finally, ValuEngine raised shares of Motorcar Parts of America from a sell rating to a hold rating in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $26.67.

MPAA opened at $18.62 on Tuesday. The company has a market capitalization of $352.56 million, a PE ratio of 12.73 and a beta of 1.47. Motorcar Parts of America has a 1-year low of $13.41 and a 1-year high of $24.60. The firm’s 50 day simple moving average is $21.29 and its two-hundred day simple moving average is $18.67. The company has a current ratio of 1.25, a quick ratio of 0.38 and a debt-to-equity ratio of 0.29.

Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings data on Monday, February 10th. The auto parts company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.15). The firm had revenue of $127.68 million for the quarter, compared to the consensus estimate of $139.30 million. Motorcar Parts of America had a negative net margin of 0.70% and a positive return on equity of 9.99%. Equities analysts forecast that Motorcar Parts of America will post 1.39 earnings per share for the current fiscal year.

In other Motorcar Parts of America news, Director Duane Franklin Miller sold 3,000 shares of Motorcar Parts of America stock in a transaction on Monday, November 25th. The shares were sold at an average price of $19.58, for a total value of $58,740.00. Company insiders own 5.50% of the company’s stock.

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Motorcar Parts of America by 1.2% in the second quarter. Vanguard Group Inc. now owns 1,222,351 shares of the auto parts company’s stock worth $26,170,000 after purchasing an additional 15,031 shares during the last quarter. Private Capital Management LLC raised its position in Motorcar Parts of America by 1.9% in the second quarter. Private Capital Management LLC now owns 1,640,996 shares of the auto parts company’s stock worth $35,134,000 after acquiring an additional 30,145 shares during the period. Bank of America Corp DE raised its position in Motorcar Parts of America by 37.2% in the second quarter. Bank of America Corp DE now owns 46,571 shares of the auto parts company’s stock worth $997,000 after acquiring an additional 12,630 shares during the period. Morgan Stanley raised its position in Motorcar Parts of America by 955.0% in the second quarter. Morgan Stanley now owns 86,907 shares of the auto parts company’s stock worth $1,860,000 after acquiring an additional 78,669 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Motorcar Parts of America by 125.2% in the third quarter. State of Alaska Department of Revenue now owns 14,477 shares of the auto parts company’s stock worth $244,000 after acquiring an additional 8,048 shares during the period.

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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