StockNews.com Upgrades Motorcar Parts of America (NASDAQ:MPAA) to Strong-Buy

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Separately, Cantor Fitzgerald assumed coverage on shares of Motorcar Parts of America in a research report on Friday, December 20th. They set an “overweight” rating and a $14.00 price objective for the company.

Motorcar Parts of America Stock Performance

Shares of NASDAQ:MPAA opened at $8.57 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 1.39 and a debt-to-equity ratio of 0.12. Motorcar Parts of America has a 12-month low of $4.36 and a 12-month high of $9.89. The company’s 50 day moving average price is $7.32 and its two-hundred day moving average price is $6.65. The firm has a market cap of $167.83 million, a PE ratio of -2.45 and a beta of 1.47.

Institutional Investors Weigh In On Motorcar Parts of America

A number of hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new position in shares of Motorcar Parts of America during the third quarter worth $281,000. Donald Smith & CO. Inc. boosted its stake in shares of Motorcar Parts of America by 10.6% during the third quarter. Donald Smith & CO. Inc. now owns 1,040,545 shares of the auto parts company’s stock valued at $7,690,000 after purchasing an additional 99,958 shares in the last quarter. Equitable Trust Co. boosted its stake in shares of Motorcar Parts of America by 9.3% during the third quarter. Equitable Trust Co. now owns 67,965 shares of the auto parts company’s stock valued at $502,000 after purchasing an additional 5,780 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Motorcar Parts of America by 9.1% during the third quarter. Victory Capital Management Inc. now owns 96,000 shares of the auto parts company’s stock valued at $709,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Motorcar Parts of America by 20.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 42,201 shares of the auto parts company’s stock valued at $312,000 after buying an additional 7,198 shares during the period. 83.48% of the stock is currently owned by institutional investors and hedge funds.

About Motorcar Parts of America

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.