StockNews.com Lowers CarParts.com (NASDAQ:PRTS) to Sell

StockNews.com lowered shares of CarParts.com (NASDAQ:PRTS) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

A number of other research firms have also recently commented on PRTS. Royal Bank of Canada reiterated a sector perform rating and set a $1.30 price target (down previously from $2.00) on shares of CarParts.com in a report on Wednesday, July 31st. Lake Street Capital dropped their target price on shares of CarParts.com from $3.00 to $2.00 and set a buy rating on the stock in a report on Wednesday, July 31st. Finally, Craig Hallum restated a hold rating and issued a $2.00 target price (down previously from $4.00) on shares of CarParts.com in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, CarParts.com has an average rating of Hold and an average target price of $2.33.

CarParts.com Trading Down 4.5 %

NASDAQ:PRTS opened at $0.95 on Thursday. The company’s 50 day moving average price is $1.11 and its 200-day moving average price is $1.62. CarParts.com has a 52 week low of $0.93 and a 52 week high of $5.00. The company has a quick ratio of 0.56, a current ratio of 1.63 and a debt-to-equity ratio of 0.10. The stock has a market cap of $53.69 million, a price-to-earnings ratio of -3.51 and a beta of 2.02.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings results on Tuesday, July 30th. The specialty retailer reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). CarParts.com had a negative net margin of 3.75% and a negative return on equity of 21.00%. The firm had revenue of $144.27 million for the quarter. During the same quarter last year, the firm posted ($0.01) EPS.

Insiders Place Their Bets

In other CarParts.com news, Director Jim Barnes purchased 94,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average cost of $1.10 per share, for a total transaction of $103,400.00. Following the completion of the transaction, the director now owns 252,097 shares of the company’s stock, valued at $277,306.70. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other CarParts.com news, Director Jim Barnes purchased 94,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average cost of $1.10 per share, for a total transaction of $103,400.00. Following the completion of the transaction, the director now owns 252,097 shares of the company’s stock, valued at $277,306.70. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jay Keith Greyson purchased 41,658 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $1.04 per share, for a total transaction of $43,324.32. Following the completion of the transaction, the director now directly owns 282,107 shares of the company’s stock, valued at approximately $293,391.28. The disclosure for this purchase can be found here. Insiders own 5.60% of the company’s stock.

Institutional Trading of CarParts.com

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of CarParts.com by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,134,543 shares of the specialty retailer’s stock valued at $17,034,000 after purchasing an additional 214,238 shares during the period. Oaktop Capital Management II L.P. raised its position in shares of CarParts.com by 11.5% during the 4th quarter. Oaktop Capital Management II L.P. now owns 3,725,185 shares of the specialty retailer’s stock valued at $11,772,000 after purchasing an additional 383,426 shares during the period. Acadian Asset Management LLC raised its position in shares of CarParts.com by 46.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,838,815 shares of the specialty retailer’s stock valued at $2,978,000 after purchasing an additional 582,376 shares during the period. Wasatch Advisors LP increased its holdings in CarParts.com by 56.2% in the 4th quarter. Wasatch Advisors LP now owns 1,472,946 shares of the specialty retailer’s stock valued at $4,655,000 after acquiring an additional 529,767 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in CarParts.com by 7.2% in the 4th quarter. First Eagle Investment Management LLC now owns 792,767 shares of the specialty retailer’s stock valued at $2,505,000 after acquiring an additional 52,963 shares during the last quarter. 75.30% of the stock is currently owned by institutional investors.

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.