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

Motorcar Parts of America (NASDAQ:MPAA) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Separately, Cantor Fitzgerald started 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 target price for the company.

Motorcar Parts of America Trading Down 1.6 %

Shares of MPAA opened at $10.39 on Friday. Motorcar Parts of America has a fifty-two week low of $4.36 and a fifty-two week high of $11.89. The business has a 50-day moving average of $8.64 and a 200 day moving average of $7.40. The firm has a market cap of $203.48 million, a P/E ratio of -10.49 and a beta of 1.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.39 and a current ratio of 1.45.

Hedge Funds Weigh In On Motorcar Parts of America

Large investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp bought a new stake in shares of Motorcar Parts of America during the 4th quarter valued at $97,000. Millennium Management LLC grew its holdings 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 valued at $624,000 after buying an additional 23,164 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Motorcar Parts of America by 10.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 142,497 shares of the auto parts company’s stock valued at $1,083,000 after buying an additional 13,644 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Motorcar Parts of America in the fourth quarter worth about $88,000. Finally, Ancora Advisors LLC purchased a new stake in shares of Motorcar Parts of America in the fourth quarter worth about $512,000. 83.48% of the stock is owned by institutional investors.

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.