Motorcar Parts of America (NASDAQ:MPAA) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of Motorcar Parts of America (NASDAQ:MPAA) from a strong-buy rating to a buy rating in a report issued on Sunday.

Other equities analysts have also issued research reports about the company. Loop Capital set a $20.00 price objective on Motorcar Parts of America in a research note on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of Motorcar Parts of America in a report on Monday, December 1st. Finally, Zacks Research downgraded Motorcar Parts of America from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $17.00.

Motorcar Parts of America Stock Performance

Shares of NASDAQ:MPAA opened at $13.77 on Friday. Motorcar Parts of America has a 12-month low of $5.38 and a 12-month high of $18.12. The company’s 50 day moving average price is $14.71 and its two-hundred day moving average price is $13.57. The firm has a market cap of $269.34 million, a PE ratio of 125.18 and a beta of 1.26. The company has a quick ratio of 0.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.17.

Motorcar Parts of America announced that its board has authorized a stock buyback plan on Monday, December 8th that permits the company to buyback $57.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 22.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Motorcar Parts of America by 2,191.3% in 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 during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Motorcar Parts of America in the 2nd quarter valued at approximately $45,000. Quarry LP raised 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 valued at $70,000 after acquiring an additional 3,868 shares during the last quarter. CWM LLC acquired a new position in shares of Motorcar Parts of America during the third quarter worth $78,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Motorcar Parts of America during the first quarter worth $95,000. Institutional investors and hedge funds own 83.48% of the company’s stock.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.