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8 Low-Beta Stocks for a Market Correction

7. Motorcar Parts of America (MPAA - Get Report) remanufactures alternators and starters for import and domestic cars, light trucks, heavy-duty agricultural and industrial applications. These products are distributed to both the do-it-yourself (DIY) and do-it-for-me (DIFM) markets across the U.S. and Canada. The company is expected to report fourth-quarter and full-year 2011 results on June 14. The stock has a beta of 0.60

Net income for the fourth quarter of 2011 is forecast at $3.3 million on sales of $40.5 million, compared to net income of $2.9 million on $38.6 million sales recorded during 2010 fourth quarter, according to analysts polled by Bloomberg. Earnings per share are pegged at 26 cents, up from 24 cents per share reported during the comparable quarter last year.

Net income for full year 2011 is forecast at $13.1 million on sales of $159 million, compared to net income of $9.7 million on $147.2 million sales recorded during full year 2010, according to analysts polled by Bloomberg. Earnings per share are pegged at $1.09 cents, up from 80 cents per share reported during the previous year.

Of the four analysts covering the stock, 75% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. On average, analysts estimate 8.8% upside to $17 in value from current levels.

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