CarParts.com (NASDAQ:PRTS) Announces Earnings Results

CarParts.com (NASDAQ:PRTS) issued its quarterly earnings results on Tuesday. The specialty retailer reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06), Zacks reports. The firm had revenue of $144.75 million during the quarter. CarParts.com had a negative net margin of 5.11% and a negative return on equity of 28.79%. CarParts.com updated its FY 2024 guidance to EPS.

CarParts.com Stock Performance

Shares of CarParts.com stock traded up $0.00 during trading on Friday, hitting $0.83. 345,959 shares of the stock were exchanged, compared to its average volume of 787,599. The stock’s fifty day moving average is $0.84 and its 200 day moving average is $1.00. CarParts.com has a 12 month low of $0.68 and a 12 month high of $3.65. The stock has a market cap of $47.57 million, a PE ratio of -1.51 and a beta of 2.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.51 and a current ratio of 1.67.

Wall Street Analyst Weigh In

Several analysts have weighed in on PRTS shares. Royal Bank of Canada lowered their target price on shares of CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a research note on Wednesday. Lake Street Capital dropped their price objective on shares of CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, StockNews.com cut shares of CarParts.com from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.

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.