CarParts.com (NASDAQ:PRTS) Releases Earnings Results, Misses Expectations By $0.06 EPS

CarParts.com (NASDAQ:PRTS) posted its quarterly earnings data on Tuesday. The specialty retailer reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06), Zacks reports. The company had revenue of $144.75 million during the quarter. CarParts.com had a negative return on equity of 28.79% and a negative net margin of 5.11%. CarParts.com updated its FY 2024 guidance to EPS.

CarParts.com Stock Down 1.5 %

Shares of CarParts.com stock traded down $0.01 during trading on Friday, reaching $0.82. 287,143 shares of the company were exchanged, compared to its average volume of 787,321. The business has a 50-day moving average price of $0.84 and a 200-day moving average price of $1.00. The company has a quick ratio of 0.51, a current ratio of 1.67 and a debt-to-equity ratio of 0.10. CarParts.com has a twelve month low of $0.68 and a twelve month high of $3.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Lake Street Capital dropped their target price on CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada cut their target price on shares of CarParts.com from $0.90 to $0.80 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, StockNews.com lowered shares of CarParts.com from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

About CarParts.com

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.