CarParts.com (NASDAQ:PRTS) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of CarParts.com (NASDAQ:PRTS) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other research analysts have also recently weighed in on PRTS. Royal Bank Of Canada lowered their price objective on CarParts.com from $0.60 to $0.50 and set a “sector perform” rating on the stock in a research report on Friday, March 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $0.50.

CarParts.com Price Performance

Shares of CarParts.com stock opened at $0.79 on Friday. CarParts.com has a one year low of $0.37 and a one year high of $1.36. The stock’s fifty day moving average is $0.64 and its 200 day moving average is $0.62. The stock has a market cap of $55.59 million, a P/E ratio of -0.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 1.66.

CarParts.com (NASDAQ:PRTS) last released its earnings results on Thursday, March 5th. The specialty retailer reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.07. The company 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 79.79% and a negative net margin of 9.21%.

Institutional Investors Weigh In On CarParts.com

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of CarParts.com by 2.3% in 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 grew its position 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 worth $880,000 after purchasing an additional 277,807 shares in the last quarter. North Star Investment Management Corp. raised its stake in CarParts.com by 183.3% during the 3rd quarter. North Star Investment Management Corp. now owns 1,387,853 shares of the specialty retailer’s stock valued at $987,000 after purchasing an additional 897,913 shares during the period. Renaissance Technologies LLC raised its stake in CarParts.com by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after purchasing an additional 35,900 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in CarParts.com by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock worth $325,000 after purchasing an additional 84,064 shares in the last quarter. 75.30% of the stock is owned by institutional investors.

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.