Motorcar Parts of America (NASDAQ:MPAA) Downgraded to “Buy” Rating by StockNews.com

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

Separately, Cantor Fitzgerald initiated coverage on shares of Motorcar Parts of America in a research note on Friday, December 20th. They issued an “overweight” rating and a $14.00 price target on the stock.

Motorcar Parts of America Trading Down 5.1 %

MPAA opened at $10.30 on Thursday. The company’s 50 day moving average is $7.50 and its 200-day moving average is $6.78. Motorcar Parts of America has a 1-year low of $4.36 and a 1-year high of $11.50. 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 company has a market cap of $201.67 million, a P/E ratio of -10.40 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 MPAA. OMERS ADMINISTRATION Corp acquired a new stake in Motorcar Parts of America during the 4th quarter worth approximately $97,000. Millennium Management LLC boosted its position in Motorcar Parts of America by 39.3% during the 4th quarter. Millennium Management LLC now owns 82,056 shares of the auto parts company’s stock worth $624,000 after buying an additional 23,164 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Motorcar Parts of America by 10.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 142,497 shares of the auto parts company’s stock worth $1,083,000 after buying an additional 13,644 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Motorcar Parts of America during the 4th quarter worth approximately $88,000. Finally, Ancora Advisors LLC acquired a new stake in Motorcar Parts of America during the 4th quarter worth approximately $512,000. 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.