Motorcar Parts of America (NASDAQ:MPAA) Stock Rating Lowered by Wall Street Zen

Motorcar Parts of America (NASDAQ:MPAA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities research analysts also recently commented on MPAA. Weiss Ratings upgraded shares of Motorcar Parts of America from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday. Loop Capital set a $20.00 target price on shares of Motorcar Parts of America in a research report on Friday, December 12th. Finally, Zacks Research raised shares of Motorcar Parts of America from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Motorcar Parts of America Stock Up 5.5%

Shares of NASDAQ:MPAA opened at $10.04 on Friday. The company has a quick ratio of 0.46, 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 $8.17 and a 52-week high of $18.12. The stock’s fifty day simple moving average is $12.60 and its 200-day simple moving average is $13.94. The company has a market capitalization of $192.87 million, a P/E ratio of 111.56 and a beta of 1.32.

Motorcar Parts of America announced that its board has approved a share repurchase program on Monday, December 8th that permits the company to buyback $57.00 million in shares. This buyback authorization permits the auto parts company to purchase up to 22.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Motorcar Parts of America

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Motorcar Parts of America by 434.8% in the 4th quarter. JPMorgan Chase & Co. now owns 444,341 shares of the auto parts company’s stock worth $5,483,000 after purchasing an additional 361,259 shares during the period. Marshall Wace LLP increased its position in Motorcar Parts of America by 96.6% during the 2nd quarter. Marshall Wace LLP now owns 505,955 shares of the auto parts company’s stock worth $5,667,000 after purchasing an additional 248,637 shares in the last quarter. Geode Capital Management LLC increased its position in Motorcar Parts of America by 100.6% during the 2nd quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company’s stock worth $5,031,000 after purchasing an additional 225,225 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in Motorcar Parts of America by 21.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 960,289 shares of the auto parts company’s stock valued at $11,850,000 after buying an additional 169,979 shares during the period. Finally, Invesco Ltd. raised its holdings in Motorcar Parts of America by 391.2% in the third quarter. Invesco Ltd. now owns 193,939 shares of the auto parts company’s stock valued at $3,208,000 after buying an additional 154,460 shares during the period. Hedge funds and other institutional investors own 83.48% of the company’s stock.

About Motorcar Parts of America

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.