CarParts.com (NASDAQ:PRTS) Stock Rating Upgraded by Wall Street Zen

CarParts.com (NASDAQ:PRTS) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other research firms have also recently issued reports on PRTS. Royal Bank Of Canada decreased their price objective on shares of CarParts.com from $0.60 to $0.50 and set a “sector perform” rating on the stock in a research report on Friday, March 6th. Weiss Ratings restated a “sell (e+)” rating on shares of CarParts.com in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CarParts.com currently has a consensus rating of “Reduce” and a consensus target price of $0.50.

CarParts.com Stock Up 5.8%

Shares of NASDAQ:PRTS opened at $0.92 on Friday. The firm has a fifty day moving average price of $0.77 and a two-hundred day moving average price of $0.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.66 and a quick ratio of 0.49. The company has a market cap of $64.84 million, a price-to-earnings ratio of -1.07 and a beta of 0.78. CarParts.com has a one year low of $0.37 and a one year high of $1.36.

CarParts.com (NASDAQ:PRTS) last posted its quarterly earnings data on Thursday, March 5th. The specialty retailer reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.07. The firm had revenue of $120.43 million for the quarter, compared to analysts’ expectations of $118.91 million. CarParts.com had a negative net margin of 9.21% and a negative return on equity of 79.79%.

Institutional Investors Weigh In On CarParts.com

Several hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in CarParts.com by 13.2% during the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock worth $119,000 after acquiring an additional 27,800 shares in the last quarter. Jane Street Group LLC bought a new position in shares of CarParts.com in the second quarter worth approximately $25,000. Renaissance Technologies LLC grew its holdings in shares of CarParts.com by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after buying an additional 35,900 shares during the last quarter. Williams & Novak LLC grew its holdings in shares of CarParts.com by 27.7% during the fourth quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock valued at $94,000 after buying an additional 40,900 shares during the last quarter. Finally, Argentarii LLC purchased a new stake in shares of CarParts.com during the third quarter valued at approximately $36,000. 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.