CarParts.com (NASDAQ:PRTS) Releases Earnings Results, Beats Estimates By $0.06 EPS

CarParts.com (NASDAQ:PRTS) announced its earnings results on Thursday. The specialty retailer reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.06, FiscalAI reports. The business had revenue of $120.43 million for the quarter, compared to the consensus estimate of $118.91 million. CarParts.com had a negative return on equity of 76.33% and a negative net margin of 9.69%.

CarParts.com Trading Down 6.5%

Shares of PRTS stock traded down $0.05 on Thursday, reaching $0.77. 1,662,427 shares of the stock were exchanged, compared to its average volume of 906,522. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.71 and a quick ratio of 0.59. CarParts.com has a one year low of $0.37 and a one year high of $1.36. The stock has a market cap of $53.77 million, a PE ratio of -0.80 and a beta of 0.84. The stock has a 50 day moving average price of $0.57 and a 200 day moving average price of $0.62.

Institutional Trading of CarParts.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in CarParts.com during the 2nd quarter valued at about $25,000. Marshall Wace LLP raised its stake in shares of CarParts.com by 345.8% during the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock worth $51,000 after buying an additional 53,170 shares during the last quarter. Private Management Group Inc. bought a new stake in shares of CarParts.com during the third quarter worth approximately $65,000. Citadel Advisors LLC lifted its holdings in CarParts.com by 171.5% in the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer’s stock valued at $106,000 after buying an additional 93,971 shares during the period. Finally, State Street Corp lifted its holdings in CarParts.com by 13.2% in the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock valued at $119,000 after buying an additional 27,800 shares during the period. 75.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1.85.

CarParts.com Company Profile

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.