CarParts.com (NASDAQ:PRTS) Shares Gap Down – Time to Sell?

CarParts.com, Inc. (NASDAQ:PRTS) shares gapped down prior to trading on Tuesday . The stock had previously closed at $6.1930, but opened at $5.89. CarParts.com shares last traded at $6.3099, with a volume of 63,967 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a report on Monday, April 20th. Royal Bank Of Canada lifted their price objective on CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised CarParts.com from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $6.00.

CarParts.com Trading Down 2.0%

The stock has a market cap of $489.12 million, a P/E ratio of -9.79 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.62 and a current ratio of 1.67. The stock has a 50-day moving average price of $0.81 and a 200-day moving average price of $0.64.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings results on Thursday, May 7th. The specialty retailer reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.85. The firm had revenue of $131.96 million during the quarter, compared to the consensus estimate of $131.38 million. CarParts.com had a negative return on equity of 61.91% and a negative net margin of 6.97%.

Institutional Trading of CarParts.com

A number of large investors have recently modified their holdings of PRTS. Jane Street Group LLC bought a new stake in shares of CarParts.com during the 2nd quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of CarParts.com during the 4th quarter valued at about $25,000. Fragasso Financial Advisors Inc bought a new stake in shares of CarParts.com during the 4th quarter valued at about $32,000. Marshall Wace LLP boosted its position in shares of CarParts.com by 345.8% during the 2nd quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 53,170 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of CarParts.com by 249.6% during the 1st quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 50,045 shares during the last quarter. Institutional investors own 75.30% of the company’s stock.

About CarParts.com

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.