Motorcar Parts of America (NASDAQ:MPAA) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Motorcar Parts of America (NASDAQ:MPAA) released its earnings results on Monday. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.09, Zacks reports. Motorcar Parts of America had a net margin of 0.25% and a return on equity of 3.68%.

Motorcar Parts of America Price Performance

NASDAQ MPAA opened at $10.59 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.41 and a current ratio of 1.43. The company has a market capitalization of $203.43 million, a P/E ratio of 117.67 and a beta of 1.21. Motorcar Parts of America has a one year low of $9.29 and a one year high of $18.12. The stock has a 50 day moving average price of $11.12 and a 200-day moving average price of $11.69.

Wall Street Analysts Forecast Growth

MPAA has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Motorcar Parts of America in a report on Friday, May 8th. Wall Street Zen lowered shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Oppenheimer initiated coverage on shares of Motorcar Parts of America in a report on Friday, March 6th. They issued an “outperform” rating and a $18.00 target price for the company. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MPAA. Cubist Systematic Strategies LLC bought a new stake in Motorcar Parts of America in the first quarter worth $234,000. Goldman Sachs Group Inc. lifted its position in Motorcar Parts of America by 294.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,432 shares of the auto parts company’s stock worth $1,002,000 after buying an additional 78,695 shares during the last quarter. Jane Street Group LLC lifted its position in Motorcar Parts of America by 156.0% in the first quarter. Jane Street Group LLC now owns 89,733 shares of the auto parts company’s stock worth $852,000 after buying an additional 54,681 shares during the last quarter. Acadian Asset Management LLC lifted its position in Motorcar Parts of America by 64.6% in the first quarter. Acadian Asset Management LLC now owns 36,326 shares of the auto parts company’s stock worth $343,000 after buying an additional 14,251 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Motorcar Parts of America by 100.6% in the second quarter. Geode Capital Management LLC now owns 449,077 shares of the auto parts company’s stock worth $5,031,000 after buying an additional 225,225 shares during the last quarter. 83.48% of the stock is currently owned by 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.