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

StockNews.com upgraded shares of Motorcar Parts of America (NASDAQ:MPAA) from a buy rating to a strong-buy rating in a research report report published on Friday morning.

Separately, Cantor Fitzgerald assumed 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 for the company.

Motorcar Parts of America Stock Performance

Shares of MPAA opened at $10.32 on Friday. 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 stock has a 50-day moving average price of $8.71 and a 200-day moving average price of $7.44. The company has a market cap of $202.11 million, a PE ratio of -10.42 and a beta of 1.35. Motorcar Parts of America has a 12-month low of $4.36 and a 12-month high of $11.89.

Institutional Investors Weigh In On Motorcar Parts of America

A number of large investors have recently added to or reduced their stakes in MPAA. OMERS ADMINISTRATION Corp purchased a new position in shares of Motorcar Parts of America in the 4th quarter worth about $97,000. Millennium Management LLC lifted its position in Motorcar Parts of America by 39.3% in 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 last quarter. D. E. Shaw & Co. Inc. boosted its stake in Motorcar Parts of America by 10.6% in the fourth 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 in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Motorcar Parts of America in the fourth quarter worth approximately $88,000. Finally, Ancora Advisors LLC bought a new position in Motorcar Parts of America during the fourth quarter valued at approximately $512,000. Hedge funds and other institutional investors own 83.48% of the company’s stock.

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.