Company reaffirms fiscal 2027 net sales guidance of $780 mln to $800 mln
Company maintains fiscal 2027 operating income guidance of $86 mln to $91 mln, excluding certain items
Company expects annualized net sales to exceed $900 mln by end of fiscal 2027
Overview
US auto parts maker's fiscal Q1 net sales fell yr/yr, impacted by order timing and competitor bankruptcy
Company reaffirmed full-year sales and operating income guidance despite Q1 sales decline
Company repurchased 129,523 shares for $1.9 mln during fiscal Q1; $20.1 mln remains authorized
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"
Wall Street's median 12-month price target for Motorcar Parts of America Inc is $18.00, about 32.1% above its August 7 closing price of $13.63
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago
ORDER TIMING - Co said Q1 sales decline was primarily due to anticipated timing of customer orders
COMPETITOR BANKRUPTCY - Co said new business opportunities were temporarily impacted as customers took advantage of inventory liquidations from a competitor bankruptcy
OPERATIONAL RELOCATION - Co said net sales were delayed by the planned strategic relocation of its Canadian heavy-duty operations to Mexico
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