CarParts.com (NASDAQ:PRTS) Lowered to Sell at StockNews.com

Posted by on Jun 23rd, 2022

StockNews.com downgraded shares of CarParts.com (NASDAQ:PRTS – Get Rating) from a hold rating to a sell rating in a report released on Wednesday morning.

PRTS has been the topic of a number of other reports. Lake Street Capital started coverage on shares of CarParts.com in a report on Friday, March 4th. They issued a buy rating and a $18.00 target price on the stock. Craig Hallum dropped their price objective on shares of CarParts.com from $20.00 to $15.00 in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $16.50.

Shares of CarParts.com stock opened at $8.00 on Wednesday. The firm’s fifty day simple moving average is $7.31 and its 200-day simple moving average is $8.56. The stock has a market capitalization of $432.57 million, a price-to-earnings ratio of -72.72 and a beta of 2.45. CarParts.com has a 12 month low of $5.90 and a 12 month high of $20.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 0.32.

CarParts.com (NASDAQ:PRTS – Get Rating) last announced its earnings results on Tuesday, May 3rd. The specialty retailer reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $166.05 million for the quarter, compared to analysts’ expectations of $160.20 million. CarParts.com had a negative net margin of 0.91% and a negative return on equity of 5.66%. During the same period in the previous year, the company posted ($0.06) EPS. Analysts anticipate that CarParts.com will post -0.13 earnings per share for the current year.

In other CarParts.com news, VP Alfredo Gomez sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the sale, the vice president now directly owns 536,264 shares in the company, valued at approximately $3,780,661.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. PDT Partners LLC boosted its position in shares of CarParts.com by 0.8% during the 4th quarter. PDT Partners LLC now owns 154,191 shares of the specialty retailer’s stock worth $1,727,000 after purchasing an additional 1,234 shares in the last quarter. Northern Trust Corp boosted its position in shares of CarParts.com by 0.3% during the 4th quarter. Northern Trust Corp now owns 470,145 shares of the specialty retailer’s stock worth $5,266,000 after purchasing an additional 1,369 shares in the last quarter. Rhumbline Advisers boosted its position in shares of CarParts.com by 3.0% during the 1st quarter. Rhumbline Advisers now owns 49,611 shares of the specialty retailer’s stock worth $332,000 after purchasing an additional 1,452 shares in the last quarter. Cornerstone Advisory LLC purchased a new stake in shares of CarParts.com in the 4th quarter worth about $33,000. Finally, Credit Suisse AG boosted its position in shares of CarParts.com by 0.4% in the 4th quarter. Credit Suisse AG now owns 826,165 shares of the specialty retailer’s stock worth $9,254,000 after buying an additional 3,351 shares in the last quarter. Institutional investors own 84.41% of the company’s stock.

About CarParts.com (Get Rating)

CarParts.com, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories in the United States and the Philippines. It offers replacement parts, such as parts for the exterior of an automobile; mirror products; engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories to individual consumers through its network of e-commerce websites and online marketplaces.

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