StockNews.com upgraded shares of Motorcar Parts of America (NASDAQ:MPAA - Free Report) from a buy rating to a strong-buy rating in a report released on Monday.
Separately, Cantor Fitzgerald initiated coverage on Motorcar Parts of America in a research note on Friday, December 20th. They issued an "overweight" rating and a $14.00 price objective on the stock.
Check Out Our Latest Research Report on MPAA
Motorcar Parts of America Stock Performance
Motorcar Parts of America stock traded down $0.02 during mid-day trading on Monday, reaching $8.93. The company's stock had a trading volume of 51,858 shares, compared to its average volume of 93,329. Motorcar Parts of America has a twelve month low of $4.36 and a twelve month high of $11.89. The company has a current ratio of 1.45, a quick ratio of 0.39 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $9.81 and a 200-day moving average price of $7.87. The firm has a market cap of $174.89 million, a price-to-earnings ratio of -9.02 and a beta of 1.29.
Institutional Trading of Motorcar Parts of America
A number of hedge funds have recently made changes to their positions in MPAA. Barclays PLC acquired a new position in Motorcar Parts of America in the third quarter valued at $79,000. Geode Capital Management LLC lifted its position in Motorcar Parts of America by 15.1% in the 3rd quarter. Geode Capital Management LLC now owns 212,994 shares of the auto parts company's stock valued at $1,574,000 after acquiring an additional 27,961 shares in the last quarter. Atlas Legacy Advisors LLC purchased a new stake in shares of Motorcar Parts of America in the fourth quarter valued at about $580,000. Bailard Inc. purchased a new stake in shares of Motorcar Parts of America during the 4th quarter valued at $201,000. Finally, Victory Capital Management Inc. increased its position in Motorcar Parts of America by 14.9% in the fourth quarter. Victory Capital Management Inc. now owns 110,310 shares of the auto parts company's stock worth $838,000 after buying an additional 14,310 shares during the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.
About Motorcar Parts of America
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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.
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