CarParts.com (NASDAQ:PRTS) Rating Increased to Hold at StockNews.com

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

Separately, Craig Hallum raised CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Thursday, March 6th.

CarParts.com Stock Performance

Shares of NASDAQ:PRTS opened at $0.99 on Tuesday. The company’s 50 day moving average price is $1.08 and its two-hundred day moving average price is $1.00. CarParts.com has a 12-month low of $0.68 and a 12-month high of $1.66. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.10. The firm has a market cap of $57.03 million, a PE ratio of -1.84 and a beta of 2.11.

CarParts.com (NASDAQ:PRTS) last released its earnings results on Tuesday, March 25th. The specialty retailer reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.08). CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%. The firm had revenue of $588.85 million during the quarter, compared to the consensus estimate of $141.22 million.

Hedge Funds Weigh In On CarParts.com

Several hedge funds and other institutional investors have recently bought and sold shares of PRTS. FMR LLC increased its stake in CarParts.com by 26.6% in the third quarter. FMR LLC now owns 426,441 shares of the specialty retailer’s stock valued at $386,000 after purchasing an additional 89,645 shares in the last quarter. XTX Topco Ltd grew its stake in shares of CarParts.com by 14.9% in the 3rd quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 10,230 shares during the period. Assenagon Asset Management S.A. increased its position in CarParts.com by 145.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock valued at $729,000 after buying an additional 399,901 shares in the last quarter. Williams & Novak LLC raised its stake in CarParts.com by 19.2% during the 4th quarter. Williams & Novak LLC now owns 151,500 shares of the specialty retailer’s stock worth $164,000 after buying an additional 24,400 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new position in CarParts.com in the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

About CarParts.com

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.