CarParts.com (NASDAQ:PRTS) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of CarParts.com (NASDAQ:PRTS) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other equities analysts have also recently issued reports on the company. Lake Street Capital reduced their target price on CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada reduced their price objective on shares of CarParts.com from $0.90 to $0.80 and set a “sector perform” rating on the stock in a research note on Wednesday, October 30th.

CarParts.com Price Performance

Shares of PRTS traded down $0.00 on Tuesday, reaching $0.94. 49,995 shares of the company’s stock were exchanged, compared to its average volume of 777,634. The business has a 50 day moving average price of $0.86 and a two-hundred day moving average price of $0.98. CarParts.com has a 12 month low of $0.68 and a 12 month high of $3.65. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10.

CarParts.com (NASDAQ:PRTS) last issued its earnings results on Tuesday, October 29th. The specialty retailer reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.06). CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%. The business had revenue of $144.75 million for the quarter.

Institutional Investors Weigh In On CarParts.com

Several institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CarParts.com in the 1st quarter valued at about $33,000. Cullen Frost Bankers Inc. bought a new position in shares of CarParts.com during the second quarter worth about $50,000. XTX Topco Ltd raised its position in CarParts.com by 41.2% in the 2nd quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock valued at $69,000 after buying an additional 20,037 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in CarParts.com in the 2nd quarter valued at approximately $93,000. Finally, Williams & Novak LLC bought a new stake in CarParts.com in the 2nd quarter valued at approximately $114,000. 75.30% of the stock is owned by institutional investors.

CarParts.com Company 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.