Share Repurchase Program Declared by Motorcar Parts of America (MPAA) Board

Motorcar Parts of America (NASDAQ:MPAA) declared that its board has approved a stock repurchase plan, which authorizes the company to buyback $5.00 million in shares on Friday, February 9th, EventVestor reports. This buyback authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Motorcar Parts of America (NASDAQ:MPAA) opened at $22.01 on Friday. Motorcar Parts of America has a 1-year low of $20.94 and a 1-year high of $31.57. The company has a market cap of $467.40, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.53 and a beta of 0.99. The company has a current ratio of 0.89, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

Motorcar Parts of America (NASDAQ:MPAA) last released its quarterly earnings data on Friday, February 9th. The auto parts company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.15). The company had revenue of $100.10 million for the quarter, compared to the consensus estimate of $113.46 million. Motorcar Parts of America had a net margin of 8.03% and a return on equity of 15.15%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. equities research analysts forecast that Motorcar Parts of America will post 2.01 earnings per share for the current fiscal year.

MPAA has been the subject of several research reports. Zacks Investment Research downgraded shares of Motorcar Parts of America from a “hold” rating to a “sell” rating in a report on Thursday, November 16th. BidaskClub raised shares of Motorcar Parts of America from a “sell” rating to a “hold” rating in a report on Friday, January 5th. ValuEngine downgraded shares of Motorcar Parts of America from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. TheStreet downgraded shares of Motorcar Parts of America from a “b-” rating to a “c” rating in a report on Tuesday, December 5th. Finally, B. Riley reissued a “buy” rating on shares of Motorcar Parts of America in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.50.

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About Motorcar Parts of America

Motorcar Parts of America, Inc is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications.

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