Motorcar Parts of America (NASDAQ:MPAA) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Motorcar Parts of America (NASDAQ:MPAA) from a strong-buy rating to a buy rating in a research note released on Thursday.

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

Motorcar Parts of America Price Performance

Shares of Motorcar Parts of America stock opened at $10.42 on Thursday. The stock has a market cap of $204.10 million, a price-to-earnings ratio of -10.53 and a beta of 1.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.39 and a current ratio of 1.45. The stock has a 50 day moving average price of $7.57 and a 200-day moving average price of $6.84. Motorcar Parts of America has a one year low of $4.36 and a one year high of $11.50.

Hedge Funds Weigh In On Motorcar Parts of America

A number of institutional investors and hedge funds have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp purchased a new position in shares of Motorcar Parts of America in the 4th quarter worth approximately $97,000. Millennium Management LLC lifted its stake in shares of 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 acquiring an additional 23,164 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of 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 acquiring an additional 13,644 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Motorcar Parts of America during the 4th quarter worth approximately $88,000. Finally, Ancora Advisors LLC bought a new stake in shares of Motorcar Parts of America during the 4th quarter worth approximately $512,000. Hedge funds and other institutional investors own 83.48% of the company’s stock.

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.