CarParts.com (NASDAQ:PRTS) Downgraded by StockNews.com to Sell

CarParts.com (NASDAQ:PRTS – Get Rating) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Other equities research analysts also recently issued research reports about the company. Craig Hallum cut their price target on CarParts.com from $20.00 to $15.00 in a report on Wednesday, March 2nd. Lake Street Capital started coverage on CarParts.com in a report on Friday, March 4th. They set a “buy” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

PRTS opened at $8.23 on Wednesday. The stock’s 50-day moving average price is $7.33 and its 200 day moving average price is $8.53. CarParts.com has a 12-month low of $5.90 and a 12-month high of $20.74. The company has a current ratio of 1.63, a quick ratio of 0.32 and a debt-to-equity ratio of 0.14. The firm has a market cap of $445.00 million, a price-to-earnings ratio of -74.81 and a beta of 2.45.

CarParts.com (NASDAQ:PRTS – Get Rating) last posted its earnings results on Tuesday, May 3rd. The specialty retailer reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.09. CarParts.com had a negative return on equity of 5.66% and a negative net margin of 0.91%. The firm had revenue of $166.05 million for the quarter, compared to analyst estimates of $160.20 million. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, research analysts forecast that CarParts.com will post -0.13 earnings per share for the current year.

In related news, VP Alfredo Gomez sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the transaction, the vice president now owns 536,264 shares in the company, valued at approximately $3,780,661.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Advisory LLC acquired a new position in CarParts.com during the fourth quarter worth $33,000. Quantbot Technologies LP acquired a new position in CarParts.com during the first quarter worth $40,000. Arizona State Retirement System purchased a new position in CarParts.com during the fourth quarter worth $118,000. Virginia Retirement Systems ET AL purchased a new position in CarParts.com during the first quarter worth $74,000. Finally, Peregrine Asset Advisers Inc. purchased a new position in CarParts.com during the first quarter worth $101,000. 84.41% of the stock is owned by institutional investors and hedge funds.

CarParts.com Company Profile (Get Rating)

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 to individual consumers through its network of e-commerce websites and online marketplaces.

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