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

Motorcar Parts of America (NASDAQ:MPAA) posted its quarterly earnings data on Thursday. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01, Morningstar.com reports. The firm had revenue of $108.60 million for the quarter, compared to the consensus estimate of $106.08 million. Motorcar Parts of America had a negative net margin of 1.73% and a positive return on equity of 9.93%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS.

Motorcar Parts of America stock traded down $0.57 during midday trading on Friday, reaching $15.75. The stock had a trading volume of 122,588 shares, compared to its average volume of 126,287. Motorcar Parts of America has a 12 month low of $12.09 and a 12 month high of $27.19. The business has a 50-day moving average of $18.34. The firm has a market cap of $308.29 million, a price-to-earnings ratio of 10.43 and a beta of 1.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.23 and a quick ratio of 0.40.

A number of equities analysts have issued reports on MPAA shares. Zacks Investment Research downgraded shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. TheStreet downgraded shares of Motorcar Parts of America from a “c” rating to a “d+” rating in a report on Thursday. BidaskClub downgraded shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Finally, ValuEngine upgraded Motorcar Parts of America from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $27.00.

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Motorcar Parts of America by 11.5% in the 1st quarter. Victory Capital Management Inc. now owns 97,100 shares of the auto parts company’s stock valued at $1,832,000 after acquiring an additional 10,000 shares during the period. Comerica Bank raised its stake in Motorcar Parts of America by 3.2% in the 1st quarter. Comerica Bank now owns 18,863 shares of the auto parts company’s stock valued at $373,000 after acquiring an additional 584 shares during the period. Tieton Capital Management LLC raised its stake in Motorcar Parts of America by 12.3% in the 1st quarter. Tieton Capital Management LLC now owns 247,189 shares of the auto parts company’s stock valued at $4,664,000 after acquiring an additional 27,105 shares during the period. Private Capital Management LLC increased its position in shares of Motorcar Parts of America by 0.7% during the first quarter. Private Capital Management LLC now owns 1,610,851 shares of the auto parts company’s stock valued at $30,397,000 after buying an additional 11,855 shares during the period. Finally, First Hawaiian Bank increased its position in shares of Motorcar Parts of America by 69.2% during the first quarter. First Hawaiian Bank now owns 7,370 shares of the auto parts company’s stock valued at $139,000 after buying an additional 3,015 shares during the period.

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

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