RK Capital Management LLC Makes New Investment in CarParts.com, Inc. (NASDAQ:PRTS)

RK Capital Management LLC bought a new position in CarParts.com, Inc. (NASDAQ:PRTS) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,401,200 shares of the specialty retailer’s stock, valued at approximately $7,482,000. CarParts.com makes up about 1.6% of RK Capital Management LLC’s portfolio, making the stock its 29th largest holding. RK Capital Management LLC owned 2.49% of CarParts.com as of its most recent SEC filing.

Several other large investors have also modified their holdings of PRTS. Lazard Asset Management LLC bought a new stake in shares of CarParts.com during the 4th quarter worth $33,000. Captrust Financial Advisors bought a new stake in shares of CarParts.com during the 2nd quarter worth $35,000. Quantbot Technologies LP bought a new stake in shares of CarParts.com during the 1st quarter worth $40,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CarParts.com by 64.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,874 shares of the specialty retailer’s stock worth $43,000 after buying an additional 2,700 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of CarParts.com by 47.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,182 shares of the specialty retailer’s stock worth $44,000 after buying an additional 2,619 shares during the period. 74.15% of the stock is owned by institutional investors.

CarParts.com Stock Down 2.2 %

PRTS traded down $0.11 during trading on Thursday, reaching $4.83. The company had a trading volume of 455,183 shares, compared to its average volume of 714,562. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.77 and a quick ratio of 0.80. The business’s fifty day moving average price is $4.46 and its 200 day moving average price is $4.85. CarParts.com, Inc. has a 12 month low of $3.82 and a 12 month high of $7.44. The company has a market cap of $275.41 million, a P/E ratio of -41.50 and a beta of 2.16.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings data on Tuesday, August 1st. The specialty retailer reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $176.98 million during the quarter, compared to analysts’ expectations of $176.00 million. CarParts.com had a negative net margin of 1.01% and a negative return on equity of 5.94%. Equities analysts anticipate that CarParts.com, Inc. will post -0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of CarParts.com from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. Roth Mkm reissued a “buy” rating and issued a $5.50 price target on shares of CarParts.com in a report on Thursday, August 24th. Finally, StockNews.com initiated coverage on shares of CarParts.com in a report on Thursday, August 17th. They issued a “hold” rating for the company.

CarParts.com Profile

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.