Roth Capital analyst Matt Koranda maintained a Buy rating on Motorcar Parts Of America (MPAA) today and set a price target of $30.00. The company’s shares closed last Wednesday at $25.06, close to its 52-week high of $26.42.
Koranda has an average return of 1.5% when recommending Motorcar Parts Of America.
According to TipRanks.com, Koranda is ranked #1661 out of 7551 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Motorcar Parts Of America with a $29.00 average price target, implying a 18.7% upside from current levels. In a report released yesterday, B.Riley Financial also maintained a Buy rating on the stock with a $29.00 price target.
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Based on Motorcar Parts Of America’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $123 million and net profit of $8.47 million. In comparison, last year the company earned revenue of $151 million and had a GAAP net loss of $8.19 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MPAA in relation to earlier this year. Most recently, in March 2021, Scott Joseph Adelson, a Director at MPAA bought 3,000 shares for a total of $40,590.
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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.