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

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

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

Motorcar Parts of America Stock Performance

Shares of Motorcar Parts of America stock opened at $10.17 on Monday. The firm has a market cap of $199.17 million, a price-to-earnings ratio of -10.27 and a beta of 1.35. The stock’s 50-day moving average is $8.15 and its 200-day moving average is $7.18. Motorcar Parts of America has a one year low of $4.36 and a one year high of $11.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.45 and a quick ratio of 0.39.

Institutional Trading of Motorcar Parts of America

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp acquired a new position in Motorcar Parts of America during the fourth quarter worth approximately $97,000. Millennium Management LLC lifted its stake in Motorcar Parts of America by 39.3% during the fourth quarter. Millennium Management LLC now owns 82,056 shares of the auto parts company’s stock worth $624,000 after purchasing an additional 23,164 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in 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 worth $1,083,000 after purchasing an additional 13,644 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Motorcar Parts of America during the fourth quarter worth $88,000. Finally, Ancora Advisors LLC bought a new position in shares of Motorcar Parts of America in the 4th quarter valued at $512,000. Institutional investors and hedge funds 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.