CarParts.com’s (PRTS) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of CarParts.com (NASDAQ:PRTS) in a report published on Wednesday,Benzinga reports. The firm currently has a $0.80 price target on the specialty retailer’s stock.

PRTS has been the topic of several other reports. StockNews.com raised CarParts.com from a “sell” rating to a “hold” rating in a research report on Tuesday, April 1st. Craig Hallum raised shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Thursday, March 6th.

CarParts.com Trading Down 13.2%

CarParts.com stock opened at $0.79 on Wednesday. CarParts.com has a 12 month low of $0.68 and a 12 month high of $1.45. The company has a market capitalization of $46.21 million, a price-to-earnings ratio of -1.46 and a beta of 1.52. The business’s fifty day simple moving average is $0.92 and its two-hundred day simple moving average is $1.00. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings results on Tuesday, May 13th. The specialty retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%. The firm had revenue of $147.38 million during the quarter, compared to the consensus estimate of $146.14 million.

Institutional Investors Weigh In On CarParts.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in shares of CarParts.com by 145.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock worth $729,000 after purchasing an additional 399,901 shares in the last quarter. Williams & Novak LLC boosted its holdings in CarParts.com by 19.2% in the 4th quarter. Williams & Novak LLC now owns 151,500 shares of the specialty retailer’s stock worth $164,000 after buying an additional 24,400 shares during the period. Thompson Davis & CO. Inc. purchased a new stake in CarParts.com in the 4th quarter worth $27,000. AMH Equity Ltd bought a new stake in CarParts.com during the fourth quarter valued at about $368,000. Finally, Raymond James Financial Inc. bought a new stake in CarParts.com during the fourth quarter valued at about $39,000. Institutional investors own 75.30% 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 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.