CarParts.com (NASDAQ:PRTS) Rating Lowered to Sell at BidaskClub

CarParts.com (NASDAQ:PRTS) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Other equities analysts also recently issued reports about the stock. Barrington Research reissued a “buy” rating and issued a $15.00 price target on shares of CarParts.com in a research note on Friday, August 7th. ValuEngine upgraded shares of CarParts.com from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Small Cap Consu restated a “buy” rating on shares of CarParts.com in a report on Thursday, August 6th. DA Davidson initiated coverage on shares of CarParts.com in a report on Monday, August 31st. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, Zacks Investment Research cut shares of CarParts.com from a “buy” rating to a “hold” rating in a report on Friday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. CarParts.com has a consensus rating of “Buy” and a consensus price target of $17.40.

PRTS stock opened at $10.29 on Tuesday. CarParts.com has a 1 year low of $1.04 and a 1 year high of $16.44. The company has a market cap of $486.93 million, a P/E ratio of -13.91 and a beta of 2.69. The firm has a 50-day moving average of $13.03 and a 200 day moving average of $7.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.39.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Monday, August 10th. The specialty retailer reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. CarParts.com had a negative net margin of 7.65% and a negative return on equity of 123.97%. The company had revenue of $118.93 million during the quarter, compared to the consensus estimate of $78.92 million. On average, equities research analysts expect that CarParts.com will post -0.03 earnings per share for the current fiscal year.

In other news, VP Alfredo Gomez purchased 2,660 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were purchased at an average price of $10.06 per share, for a total transaction of $26,759.60. Following the completion of the acquisition, the vice president now directly owns 129,143 shares in the company, valued at approximately $1,299,178.58. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jim Barnes purchased 5,150 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $14.49 per share, for a total transaction of $74,623.50. Following the acquisition, the director now owns 36,696 shares of the company’s stock, valued at $531,725.04. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 16,130 shares of company stock worth $202,027 and have sold 1,335,904 shares worth $11,803,796. Corporate insiders own 46.10% of the company’s stock.

Several large investors have recently bought and sold shares of the company. EAM Investors LLC lifted its position in CarParts.com by 4.2% during the first quarter. EAM Investors LLC now owns 447,606 shares of the specialty retailer’s stock valued at $783,000 after purchasing an additional 17,887 shares during the period. RBF Capital LLC lifted its position in CarParts.com by 14.2% during the first quarter. RBF Capital LLC now owns 354,000 shares of the specialty retailer’s stock valued at $620,000 after purchasing an additional 44,133 shares during the period. RK Capital Management LLC bought a new position in CarParts.com during the second quarter valued at approximately $3,006,000. Nuveen Asset Management LLC bought a new position in CarParts.com during the second quarter valued at approximately $1,623,000. Finally, Russell Investments Group Ltd. bought a new position in CarParts.com during the second quarter valued at approximately $1,414,000. Hedge funds and other institutional investors own 35.14% 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 primarily in the United States and the Philippines. It offers collision parts, such as parts for the exterior of an automobile; mirror products; engine parts comprising 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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Analyst Recommendations for CarParts.com (NASDAQ:PRTS)

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