CarParts.com (NASDAQ:PRTS) Lifted to “Hold” at StockNews.com – MarketBeat

June 11, 2022 by No Comments

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

PRTS has been the subject of several other research reports. Craig Hallum decreased their price objective on CarParts.com from $20.00 to $15.00 in a report on Wednesday, March 2nd. Lake Street Capital began coverage on CarParts.com in a report on Friday, March 4th. They set a “buy” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $16.50.

Shares of NASDAQ PRTS opened at $7.55 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.32 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $408.24 million, a PE ratio of -68.63 and a beta of 2.45. The stock’s fifty day simple moving average is $7.22 and its two-hundred day simple moving average is $8.88. CarParts.com has a 12-month low of $5.90 and a 12-month high of $20.74.

CarParts.com (NASDAQ:PRTS – Get Rating) last announced its earnings results on Tuesday, May 3rd. The specialty retailer reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. CarParts.com had a negative return on equity of 5.66% and a negative net margin of 0.91%. The business had revenue of $166.05 million for the quarter, compared to analysts’ expectations of $160.20 million. During the same quarter last year, the firm earned ($0.06) EPS. On average, equities analysts predict that CarParts.com will post -0.13 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of PRTS. Must Asset Management Inc. acquired a new stake in CarParts.com during the 4th quarter worth about $456,000. Mount Capital Ltd acquired a new stake in CarParts.com during the 4th quarter worth about $2,231,000. Bridgefront Capital LLC acquired a new stake in CarParts.com during the 4th quarter worth about $210,000. Arizona State Retirement System acquired a new stake in CarParts.com during the 4th quarter worth about $118,000. Finally, Isthmus Partners LLC acquired a new stake in CarParts.com during the 4th quarter worth about $844,000. Institutional investors own 84.41% of the company’s stock.

CarParts.com Company Profile (Get Rating)

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 to individual consumers through its network of e-commerce websites and online marketplaces.

Further Reading

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