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

CarParts.com (NASDAQ:PRTS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also recently issued research reports about the company. Lake Street Capital decreased their price target on CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada decreased their target price on CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a research note on Wednesday, October 30th.

CarParts.com Price Performance

Shares of PRTS opened at $0.89 on Tuesday. The company has a market cap of $51.25 million, a P/E ratio of -1.64 and a beta of 2.06. The stock has a fifty day moving average price of $0.86 and a 200 day moving average price of $0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57. CarParts.com has a 12 month low of $0.68 and a 12 month high of $3.65.

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

Institutional Investors Weigh In On CarParts.com

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of CarParts.com during the first quarter valued at $33,000. Cullen Frost Bankers Inc. purchased a new stake in CarParts.com in the 2nd quarter worth about $50,000. XTX Topco Ltd lifted its stake in CarParts.com by 41.2% in the 2nd quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock worth $69,000 after acquiring an additional 20,037 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in CarParts.com in the 2nd quarter worth about $93,000. Finally, Williams & Novak LLC purchased a new stake in CarParts.com in the 2nd quarter worth about $114,000. 75.30% of the stock is owned by hedge funds and other 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.