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

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

A number of other research analysts also recently commented on the company. Royal Bank of Canada lowered their price objective on CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a research note on Wednesday, October 30th. Lake Street Capital reduced their target price on shares of CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

CarParts.com Trading Up 7.1 %

NASDAQ PRTS opened at $1.01 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.57 and a current ratio of 1.62. CarParts.com has a one year low of $0.68 and a one year high of $3.65. The company has a 50-day simple moving average of $0.86 and a 200-day simple moving average of $0.98. The firm has a market capitalization of $57.97 million, a PE ratio of -1.87 and a beta of 2.06.

CarParts.com (NASDAQ:PRTS) last issued its earnings results on Tuesday, October 29th. The specialty retailer reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). The company 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 29.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd raised 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 worth $72,000 after buying an additional 10,230 shares in the last quarter. Williams & Novak LLC boosted its position in shares of CarParts.com by 11.1% in the third quarter. Williams & Novak LLC now owns 127,100 shares of the specialty retailer’s stock worth $115,000 after buying an additional 12,650 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in CarParts.com during the 1st quarter valued at about $33,000. Cullen Frost Bankers Inc. acquired a new stake in shares of CarParts.com during the second quarter worth approximately $50,000. Finally, Dynamic Advisor Solutions LLC grew its position in CarParts.com by 73.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 129,327 shares of the specialty retailer’s stock valued at $129,000 after purchasing an additional 54,869 shares in the last quarter. 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.