CarParts.com (NASDAQ:PRTS) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of CarParts.com (NASDAQ:PRTS) from a hold rating to a sell rating in a research report report published on Monday.

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

CarParts.com Trading Down 2.0 %

Shares of CarParts.com stock opened at $1.00 on Monday. CarParts.com has a 1-year low of $0.68 and a 1-year high of $1.68. The company’s fifty day simple moving average is $1.10 and its 200-day simple moving average is $0.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57. The stock has a market capitalization of $57.40 million, a PE ratio of -1.85 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) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.08). The company had revenue of $588.85 million for the quarter, compared to analysts’ expectations of $141.22 million. CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%.

Institutional Investors Weigh In On CarParts.com

A number of institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. purchased a new position in shares of CarParts.com in the fourth quarter valued at about $27,000. Raymond James Financial Inc. bought a new stake in CarParts.com during the 4th quarter valued at approximately $39,000. Squarepoint Ops LLC bought a new stake in CarParts.com during the 4th quarter valued at approximately $71,000. XTX Topco Ltd lifted its holdings in CarParts.com by 14.9% in the 3rd quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 10,230 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in CarParts.com by 8.6% in the 4th quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 10,954 shares during the period. Hedge funds and other institutional investors own 75.30% of the company’s stock.

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.