CarParts.com (NASDAQ:PRTS) Price Target Lowered to $15.00 at Royal Bank of Canada – MarketBeat

January 27, 2022 by No Comments

CarParts.com (NASDAQ:PRTS) had its price target reduced by equities researchers at Royal Bank of Canada from $21.00 to $15.00 in a research report issued to clients and investors on Thursday, The Fly reports. Royal Bank of Canada’s target price would indicate a potential upside of 80.94% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of CarParts.com from a “sell” rating to a “hold” rating in a report on Thursday, January 6th. TheStreet lowered shares of CarParts.com from a “c-” rating to a “d+” rating in a report on Monday. Finally, Roth Capital dropped their price objective on shares of CarParts.com from $30.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, December 28th.

Shares of CarParts.com stock traded down $0.07 during trading hours on Thursday, reaching $8.29. 1,007,940 shares of the company’s stock were exchanged, compared to its average volume of 875,341. CarParts.com has a 1 year low of $8.18 and a 1 year high of $23.26. The company has a market capitalization of $435.56 million, a P/E ratio of -46.05 and a beta of 2.56. The business has a fifty day moving average of $11.62 and a two-hundred day moving average of $14.73. The company has a quick ratio of 0.38, a current ratio of 1.79 and a debt-to-equity ratio of 0.14.

CarParts.com (NASDAQ:PRTS) last released its earnings results on Monday, November 1st. The specialty retailer reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). CarParts.com had a negative return on equity of 9.86% and a negative net margin of 1.56%. The business had revenue of $141.85 million for the quarter, compared to analysts’ expectations of $135.77 million. During the same period in the previous year, the company earned $0.03 EPS. As a group, research analysts predict that CarParts.com will post -0.22 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Parisi Gray Wealth Management purchased a new position in CarParts.com during the second quarter worth about $41,000. Pinz Capital Management LP purchased a new position in CarParts.com during the second quarter worth about $130,000. Legal & General Group Plc lifted its position in shares of CarParts.com by 23.2% during the second quarter. Legal & General Group Plc now owns 6,819 shares of the specialty retailer’s stock worth $139,000 after purchasing an additional 1,282 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of CarParts.com during the third quarter worth about $156,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of CarParts.com during the third quarter worth about $160,000. 80.71% of the stock is owned by institutional investors.

CarParts.com Company Profile

CarParts.com, Inc operates as an online provider of aftermarket auto parts and accessories in the United States and the Philippines. Its products include Collision Parts, Engine Parts, Performance Parts and Accessories. The firm also sells auto parts to collision repair shops, markets Kool-Vue products to auto parts wholesale distributor, and aftermarket catalytic converters under the Evan Fischer brand.

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Should you invest $1,000 in CarParts.com right …….

Source: https://www.marketbeat.com/instant-alerts/nasdaq-prts-a-buy-or-sell-right-now-2022-01-2-3/

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