CarParts.com (NASDAQ:PRTS) Lifted to “Strong-Buy” at Zacks Investment Research

CarParts.com (NASDAQ:PRTSGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Saturday, Zacks.com reports. The firm currently has a $10.00 price objective on the specialty retailer’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 26.74% from the company’s current price.

According to Zacks, “CarParts.com Inc. offer e-commerce automotive aftermarket, providing collision, engine and performance parts and accessories. CarParts.com Inc., formerly known as U.S. Auto Parts Network Inc., is headquartered in Torrance, California. “

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada lowered their target price on CarParts.com from $21.00 to $15.00 in a report on Thursday, January 27th. Lake Street Capital started coverage on CarParts.com in a report on Friday, March 4th. They issued a “buy” rating and a $18.00 target price on the stock. StockNews.com raised CarParts.com from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet downgraded CarParts.com from a “c-” rating to a “d+” rating in a report on Monday, January 24th. Finally, Craig Hallum lowered their target price on CarParts.com from $20.00 to $15.00 in a report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CarParts.com currently has an average rating of “Buy” and an average target price of $15.20.

Shares of NASDAQ:PRTS opened at $7.89 on Friday. The company has a market cap of $426.50 million, a P/E ratio of -71.72 and a beta of 2.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.74 and a quick ratio of 0.31. CarParts.com has a 1 year low of $5.90 and a 1 year high of $20.74. The stock’s fifty day moving average price is $7.15 and its 200-day moving average price is $10.13.

CarParts.com (NASDAQ:PRTSGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The specialty retailer reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. CarParts.com had a negative return on equity of 5.79% and a negative net margin of 0.91%. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, sell-side analysts anticipate that CarParts.com will post -0.25 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Advisory LLC purchased a new stake in shares of CarParts.com during the fourth quarter worth about $33,000. Virginia Retirement Systems ET AL purchased a new stake in shares of CarParts.com during the first quarter worth about $74,000. Peregrine Asset Advisers Inc. purchased a new stake in shares of CarParts.com during the first quarter worth about $101,000. Arizona State Retirement System purchased a new stake in shares of CarParts.com during the fourth quarter worth about $118,000. Finally, Dynamic Advisor Solutions LLC grew its position in shares of CarParts.com by 50.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 22,238 shares of the specialty retailer’s stock worth $149,000 after purchasing an additional 7,488 shares in the last quarter. 84.41% of the stock is currently owned by hedge funds and other institutional investors.

CarParts.com Company Profile (Get Rating)

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 to individual consumers through its network of e-commerce websites and online marketplaces.

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