CarParts.com (NASDAQ:PRTS) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of CarParts.com (NASDAQ:PRTS) from a sell rating to a hold rating in a research note published on Sunday.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada decreased their price objective on CarParts.com from $0.60 to $0.50 and set a “sector perform” rating on the stock in a report on Friday, March 6th. Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $0.50.

CarParts.com Stock Performance

Shares of PRTS stock opened at $0.87 on Friday. The stock’s fifty day moving average is $0.76 and its two-hundred day moving average is $0.62. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 1.66. The firm has a market capitalization of $61.31 million, a P/E ratio of -1.01 and a beta of 0.78. CarParts.com has a fifty-two week low of $0.37 and a fifty-two week high of $1.36.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings data on Thursday, March 5th. The specialty retailer reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. The company had revenue of $120.43 million for the quarter, compared to analyst estimates of $118.91 million. CarParts.com had a negative return on equity of 79.79% and a negative net margin of 9.21%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of CarParts.com by 13.2% during the 4th quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock worth $119,000 after acquiring an additional 27,800 shares during the period. Jane Street Group LLC purchased a new position in shares of CarParts.com during the 2nd quarter worth $25,000. Renaissance Technologies LLC raised its holdings in shares of CarParts.com by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock worth $676,000 after acquiring an additional 35,900 shares during the period. Williams & Novak LLC raised its holdings in shares of CarParts.com by 27.7% during the 4th quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock worth $94,000 after acquiring an additional 40,900 shares during the period. Finally, Argentarii LLC purchased a new position in shares of CarParts.com during the 3rd quarter worth $36,000. Hedge funds and other 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.