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

Motorcar Parts of America, Inc. (NASDAQ:MPAA) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.11 and traded as high as $13.86. Motorcar Parts of America shares last traded at $13.79, with a volume of 75,113 shares trading hands.

Wall Street Analyst Weigh In

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

Motorcar Parts of America Trading Up 1.8%

The stock’s fifty day simple moving average is $13.41 and its 200-day simple moving average is $12.11. 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 firm has a market cap of $260.91 million, a PE ratio of 25.07 and a beta of 1.14.

Motorcar Parts of America (NASDAQ:MPAA) last announced its quarterly earnings data on Monday, June 8th. The auto parts company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. The firm 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, sell-side analysts forecast that Motorcar Parts of America, Inc. will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Motorcar Parts of America

Institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its holdings in Motorcar Parts of America by 4.1% in the 2nd quarter. Osaic Holdings Inc. now owns 23,712 shares of the auto parts company’s stock worth $266,000 after buying an additional 933 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Motorcar Parts of America by 4.5% in the 2nd quarter. Lazard Asset Management LLC now owns 27,805 shares of the auto parts company’s stock valued at $311,000 after acquiring an additional 1,191 shares during the last quarter. Barclays PLC increased 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 worth $256,000 after acquiring an additional 1,196 shares during the period. Atlas Legacy Advisors LLC increased its stake in shares of Motorcar Parts of America by 1.7% in the fourth quarter. Atlas Legacy Advisors LLC now owns 93,443 shares of the auto parts company’s stock worth $1,153,000 after acquiring an additional 1,553 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Motorcar Parts of America by 5.4% during the second quarter. Invesco Ltd. now owns 39,479 shares of the auto parts company’s stock worth $442,000 after purchasing an additional 2,009 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

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.