Motorcar Parts of America (NASDAQ:MPAA) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Motorcar Parts of America, Inc. (NASDAQ:MPAA)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.97 and traded as high as $14.37. Motorcar Parts of America shares last traded at $13.91, with a volume of 90,685 shares.

Analyst Ratings Changes

Several brokerages have issued reports on MPAA. Wall Street Zen raised Motorcar Parts of America from a “hold” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Motorcar Parts of America in a research report on Tuesday, June 9th. Finally, Weiss Ratings upgraded Motorcar Parts of America from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Motorcar Parts of America Price Performance

The stock’s 50-day moving average is $12.76 and its 200 day moving average is $11.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.46 and a quick ratio of 0.47. The company has a market cap of $263.18 million, a PE ratio of 25.29 and a beta of 1.14.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings results on Monday, June 8th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.09. The business had revenue of $212.28 million for the quarter, compared to analyst estimates of $175.96 million. Motorcar Parts of America had a net margin of 1.57% and a return on equity of 5.53%. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, equities analysts anticipate that Motorcar Parts of America, Inc. will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in Motorcar Parts of America by 2,191.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,887 shares of the auto parts company’s stock valued at $32,000 after buying an additional 2,761 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Motorcar Parts of America in the fourth quarter worth about $63,000. Quarry LP grew its stake in shares of Motorcar Parts of America by 1,117.9% during the third quarter. Quarry LP now owns 4,214 shares of the auto parts company’s stock worth $70,000 after acquiring an additional 3,868 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Motorcar Parts of America by 7,127.3% during the second quarter. JPMorgan Chase & Co. now owns 8,745 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 8,624 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Motorcar Parts of America during the second quarter valued at about $109,000. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

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.