CarParts.com (NASDAQ:PRTS) Stock Rating Upgraded by StockNews.com

CarParts.com (NASDAQ:PRTS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada cut their price objective on CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a research note on Wednesday, October 30th. Lake Street Capital lowered their target price on CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st.

CarParts.com Stock Performance

Shares of CarParts.com stock remained flat at $0.90 on Tuesday. The company had a trading volume of 153,928 shares, compared to its average volume of 784,118. CarParts.com has a 1 year low of $0.68 and a 1 year high of $3.65. The firm’s 50-day moving average is $0.85 and its two-hundred day moving average is $0.98. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.10. The firm has a market cap of $51.40 million, a P/E ratio of -1.66 and a beta of 2.06.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its holdings in CarParts.com by 236.5% in the third quarter. GSA Capital Partners LLP now owns 1,233,829 shares of the specialty retailer’s stock valued at $1,118,000 after acquiring an additional 867,140 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in CarParts.com by 40.1% in the third quarter. Assenagon Asset Management S.A. now owns 275,470 shares of the specialty retailer’s stock valued at $250,000 after acquiring an additional 78,866 shares during the last quarter. Williams & Novak LLC lifted its holdings in CarParts.com by 11.1% in the third quarter. Williams & Novak LLC now owns 127,100 shares of the specialty retailer’s stock valued at $115,000 after acquiring an additional 12,650 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in CarParts.com in the second quarter valued at approximately $93,000. Finally, XTX Topco Ltd lifted its holdings in CarParts.com by 41.2% in the second quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock valued at $69,000 after acquiring an additional 20,037 shares during the last quarter. 75.30% of the stock is currently owned by institutional investors and hedge funds.

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.