Motorcar Parts of America (NASDAQ:MPAA) Posts Earnings Results

Motorcar Parts of America (NASDAQ:MPAA) released its earnings results on Monday. The auto parts company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.09, Zacks reports. Motorcar Parts of America had a return on equity of 3.68% and a net margin of 0.25%.

Motorcar Parts of America Price Performance

Motorcar Parts of America stock opened at $10.59 on Monday. The firm has a fifty day moving average of $11.12 and a 200-day moving average of $11.69. The company has a quick ratio of 0.41, a current ratio of 1.43 and a debt-to-equity ratio of 0.15. Motorcar Parts of America has a 52-week low of $9.29 and a 52-week high of $18.12. The firm has a market capitalization of $203.43 million, a P/E ratio of 117.67 and a beta of 1.21.

Institutional Investors Weigh In On Motorcar Parts of America

Several hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its stake in shares of Motorcar Parts of America by 6.1% in the fourth quarter. Barclays PLC now owns 20,720 shares of the auto parts company’s stock valued at $256,000 after purchasing an additional 1,196 shares during the period. Wells Fargo & Company MN grew its position in shares of Motorcar Parts of America by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 14,896 shares of the auto parts company’s stock worth $184,000 after buying an additional 4,709 shares in the last quarter. HRT Financial LP increased its stake in shares of Motorcar Parts of America by 14.4% in the fourth quarter. HRT Financial LP now owns 21,347 shares of the auto parts company’s stock worth $263,000 after buying an additional 2,679 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Motorcar Parts of America in the third quarter valued at $177,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of Motorcar Parts of America in the 2nd quarter worth about $224,000. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MPAA shares. Weiss Ratings restated a “hold (c-)” rating on shares of Motorcar Parts of America in a report on Friday, May 8th. Wall Street Zen cut shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Oppenheimer began coverage on Motorcar Parts of America in a report on Friday, March 6th. They issued an “outperform” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.00.

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.