The automotive aftermarket includes both replacement parts and add-ons to existing vehicles, as well as automotive services. Growth in the automotive industry could help the aftermarket industry continue to thrive.
Motorcar Parts of America, Inc (Nasdaq:MPAA), based in Torrance, CA, creates remanufactured and new starters, alternators, wheel hub assemblies and bearings. The company has a portfolio of brands, ranging from Pure Energy, a premium line, to X-Amps, the first LED-lit alternators. Although the company announced on June 10th that they expected their separately capitalized subsidiaries to file for bankruptcy, the company seems to be doing well in Q3. MPAA closed September 16th at $10.11, up $0.14, with a market cap of $146.63 million. Their 52-week trading range is $4.22 - $10.34.
Another company operating in the automotive aftermarket space is Milwaukee, WI-based Strattec Security Corp (Nasdaq:STRT). They produce automotive locks and keys as well as other access control products, like power lift doors and latches. The company is also a major OEM provider for many major car manufacturers. Strattec has declared two cash dividends for investors in the last 12 months, with the most recent one reaching investors at the end of September. STRT closed September 16th at $38.76, up $0.21, with a market cap of $129.11 million. Their 52-week trading range is $20.78 - $42.30.
Cleveland, OH-based Hickok Incorporated (OTCMKTS:HICKA) provides diagnostic testing equipment for automobiles. Offering “dealer-level diagnostics,” their products include the NGS PC Software Solutions Kits, which provide access to on-board diagnostics, and the ABS Sensor Pinpoint Tester, which allows service technicians to verify wheel speed quickly. The company also sells sensors and gauges to the aircraft and locomotive industries. HICKA was last traded on August 30th at $2.09, with a market cap of $3.42 million. Their 52-week trading range is $1.02 - $2.50.
Each car produced and sold by automotive manufacturers creates more aftermarket opportunities. Older Americans’ spending patterns are returning to baseline levels, and even young adults are buying more cars than they did last year .
Taking into account these demographic trends, along with a lineup of innovative manufacturers claiming their space in the market, customization and aftermarket replacement parts may well thrive in coming years.
The About Small Cap blog covers breaking news on small cap stocks from around the world, delving deep into pressing issues both large and small that affect small caps. For example, we recently covered groundbreaking news about artificial heart technology in the small cap world. We write about things like natural gas drilling and interviews with notable personalities across a wide variety of industries, like Elemer Piros in the biotech sector.
This news is published on the Investorideas.com Newswire and its syndicated partner network
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.