Royal Bank of Canada Lowers CarParts.com (NASDAQ:PRTS) Price Target to $0.80

CarParts.com (NASDAQ:PRTS) had its price target decreased by Royal Bank of Canada from $0.90 to $0.80 in a report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the specialty retailer’s stock.

A number of other analysts have also issued reports on the company. StockNews.com lowered CarParts.com from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Lake Street Capital lowered their price target on CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

CarParts.com Price Performance

Shares of PRTS opened at $0.83 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.10. CarParts.com has a 12 month low of $0.68 and a 12 month high of $3.65. The stock’s 50 day moving average is $0.84 and its two-hundred day moving average is $1.00. The firm has a market cap of $47.67 million, a P/E ratio of -1.54 and a beta of 2.06.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings results on Tuesday, October 29th. The specialty retailer reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). The firm had revenue of $144.75 million during the quarter. CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%.

Hedge Funds Weigh In On CarParts.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRTS. Mirae Asset Global Investments Co. Ltd. acquired a new position in CarParts.com during the first quarter worth $33,000. GSA Capital Partners LLP boosted its stake in CarParts.com by 69.9% during the first quarter. GSA Capital Partners LLP now owns 346,947 shares of the specialty retailer’s stock worth $562,000 after buying an additional 142,687 shares during the last quarter. Isthmus Partners LLC boosted its stake in CarParts.com by 109.0% during the first quarter. Isthmus Partners LLC now owns 699,053 shares of the specialty retailer’s stock worth $1,132,000 after buying an additional 364,600 shares during the last quarter. Acadian Asset Management LLC boosted its stake in CarParts.com by 46.4% during the first quarter. Acadian Asset Management LLC now owns 1,838,815 shares of the specialty retailer’s stock worth $2,978,000 after buying an additional 582,376 shares during the last quarter. Finally, Williams & Novak LLC acquired a new position in CarParts.com during the second quarter worth $114,000. Institutional investors and hedge funds 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.