Zacks Research Downgrades Motorcar Parts of America (NASDAQ:MPAA) to Strong Sell

Motorcar Parts of America (NASDAQ:MPAA) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings downgraded shares of Motorcar Parts of America from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $14.00.

Motorcar Parts of America Trading Down 3.6%

NASDAQ:MPAA opened at $13.01 on Wednesday. The company has a market cap of $254.45 million, a PE ratio of 185.88 and a beta of 1.42. The business’s 50 day moving average is $15.95 and its two-hundred day moving average is $13.11. The company has a quick ratio of 0.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.16. Motorcar Parts of America has a 52 week low of $5.38 and a 52 week high of $18.12.

Hedge Funds Weigh In On Motorcar Parts of America

Several hedge funds and other institutional investors have recently modified their holdings of MPAA. Osaic Holdings Inc. raised its position in Motorcar Parts of America by 4.1% in the second quarter. Osaic Holdings Inc. now owns 23,712 shares of the auto parts company’s stock worth $266,000 after acquiring an additional 933 shares in the last quarter. Lazard Asset Management LLC increased its stake in 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 buying an additional 1,191 shares during the period. Invesco Ltd. lifted its position in Motorcar Parts of America by 5.4% in the 2nd quarter. Invesco Ltd. now owns 39,479 shares of the auto parts company’s stock worth $442,000 after buying an additional 2,009 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 during the period. Finally, Donald Smith & CO. Inc. grew its holdings in shares of Motorcar Parts of America by 0.4% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,024,058 shares of the auto parts company’s stock valued at $9,729,000 after acquiring an additional 3,650 shares in 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 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.