CarParts.com (NASDAQ:PRTS) Shares Gap Down – Time to Sell?

CarParts.com, Inc. (NASDAQ:PRTS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $6.1930, but opened at $5.89. CarParts.com shares last traded at $6.3099, with a volume of 63,967 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRTS shares. Royal Bank Of Canada boosted their target price on CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Wall Street Zen upgraded CarParts.com from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a research report on Monday, April 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $6.00.

CarParts.com Stock Down 2.0%

The company has a quick ratio of 0.62, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $0.81 and a two-hundred day simple moving average of $0.64. The stock has a market cap of $489.12 million, a P/E ratio of -9.79 and a beta of 0.84.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings data on Thursday, May 7th. The specialty retailer reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $0.85. CarParts.com had a negative return on equity of 61.91% and a negative net margin of 6.97%.The firm had revenue of $131.96 million during the quarter, compared to the consensus estimate of $131.38 million.

Institutional Trading of CarParts.com

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of CarParts.com by 2.3% during the third quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer’s stock valued at $1,816,000 after acquiring an additional 56,857 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of CarParts.com by 18.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer’s stock valued at $880,000 after acquiring an additional 277,807 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of CarParts.com by 6.3% during the first quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer’s stock valued at $1,128,000 after acquiring an additional 85,000 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of CarParts.com by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after acquiring an additional 35,900 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of CarParts.com by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock valued at $325,000 after acquiring an additional 84,064 shares in the last quarter. Institutional investors own 75.30% of the company’s stock.

About CarParts.com

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.