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

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

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

Motorcar Parts of America Trading Down 5.9 %

Motorcar Parts of America stock traded down $0.54 during midday trading on Friday, reaching $8.65. The stock had a trading volume of 80,982 shares, compared to its average volume of 93,316. The stock’s 50-day simple moving average is $9.24 and its 200 day simple moving average is $7.68. Motorcar Parts of America has a twelve month low of $4.36 and a twelve month high of $12.50. 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 market capitalization of $169.40 million, a PE ratio of -8.74 and a beta of 1.35.

Institutional Trading of Motorcar Parts of America

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC acquired a new position in shares of Motorcar Parts of America during the third quarter worth about $79,000. Balyasny Asset Management L.P. purchased a new stake in shares of Motorcar Parts of America during the 4th quarter valued at about $88,000. OMERS ADMINISTRATION Corp acquired a new position in Motorcar Parts of America during the 4th quarter worth approximately $97,000. Schonfeld Strategic Advisors LLC purchased a new position in Motorcar Parts of America in the 4th quarter worth approximately $161,000. Finally, Bailard Inc. acquired a new stake in Motorcar Parts of America in the fourth quarter valued at approximately $201,000. 83.48% of the stock is owned by hedge funds and other institutional investors.

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.