B.Riley FBR analyst Christopher Van Horn maintained a Buy rating on Motorcar Parts Of America (MPAA – Research Report) today and set a price target of $31.00. The company’s shares closed last Monday at $19.06.
According to TipRanks.com, Horn is a 4-star analyst with an average return of 3.3% and a 51.8% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Methode Electronics, Cooper Tire Rubber, and Crawford United.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Motorcar Parts Of America with a $26.33 average price target, a 34.4% upside from current levels. In a report released yesterday, Craig-Hallum also maintained a Buy rating on the stock with a $23.00 price target.
Based on Motorcar Parts Of America’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $6.19 million. In comparison, last year the company had a GAAP net loss of $3.1 million.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MPAA in relation to earlier this year. Earlier this month, Jeffrey Mirvis, a Director at MPAA bought 3,000 shares for a total of $17,490.
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Motorcar Parts of America, Inc. engages in manufacturing, remanufacturing, and distribution of automotive parts. Its products include starters, alternators, wheel hub assemblies and bearings, brake master cylinders, brake power boosters, and turbochargers. The company was founded by Mel Marks in 1968 and is headquartered in Torrance, CA.