Motorcar Parts of America (NASDAQ:MPAA) Upgraded 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 sent to investors on Monday 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 target price for the company.

Motorcar Parts of America Stock Performance

MPAA opened at $10.73 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.45 and a quick ratio of 0.39. The firm has a fifty day moving average price of $8.27 and a 200 day moving average price of $7.23. Motorcar Parts of America has a 1 year low of $4.36 and a 1 year high of $11.89. The stock has a market cap of $210.14 million, a P/E ratio of -10.84 and a beta of 1.34.

Hedge Funds Weigh In On Motorcar Parts of America

A number of large investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp acquired a new position in Motorcar Parts of America during the fourth quarter worth $97,000. Millennium Management LLC raised its position 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 acquiring an additional 23,164 shares during the period. D. E. Shaw & Co. Inc. raised its position 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 acquiring an additional 13,644 shares during the period. Balyasny Asset Management L.P. acquired a new position in Motorcar Parts of America during the fourth quarter worth $88,000. Finally, Ancora Advisors LLC acquired a new position in Motorcar Parts of America during the fourth quarter worth $512,000. 83.48% of the stock is currently owned by institutional investors and hedge funds.

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.