CarParts.com (NASDAQ:PRTS) Upgraded by StockNews.com to “Hold”

CarParts.com (NASDAQ:PRTSGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other research analysts have also weighed in on PRTS. Lake Street Capital assumed coverage on CarParts.com in a research report on Friday, March 4th. They issued a “buy” rating and a $18.00 target price on the stock. Zacks Investment Research raised CarParts.com from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research report on Saturday, May 7th. Craig Hallum dropped their target price on CarParts.com from $20.00 to $15.00 in a research report on Wednesday, March 2nd. Royal Bank of Canada dropped their target price on CarParts.com from $21.00 to $15.00 in a research report on Thursday, January 27th. Finally, TheStreet lowered CarParts.com from a “c-” rating to a “d+” rating in a research report on Monday, January 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.20.

Shares of CarParts.com stock opened at $7.06 on Tuesday. The stock has a 50-day moving average price of $7.05 and a 200 day moving average price of $9.70. The company has a market cap of $381.74 million, a P/E ratio of -64.18 and a beta of 2.46. The company has a current ratio of 1.63, a quick ratio of 0.32 and a debt-to-equity ratio of 0.14. CarParts.com has a 1 year low of $5.90 and a 1 year high of $20.74.

CarParts.com (NASDAQ:PRTSGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The specialty retailer reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.09. CarParts.com had a negative return on equity of 5.66% and a negative net margin of 0.91%. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, equities analysts forecast that CarParts.com will post -0.13 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of PRTS. Allspring Global Investments Holdings LLC acquired a new position in shares of CarParts.com during the 4th quarter valued at about $28,339,000. Goldman Sachs Group Inc. lifted its position in shares of CarParts.com by 195.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,549,509 shares of the specialty retailer’s stock worth $28,554,000 after acquiring an additional 1,687,162 shares during the period. Janus Henderson Group PLC bought a new stake in shares of CarParts.com in the 3rd quarter worth approximately $17,041,000. Assenagon Asset Management S.A. lifted its position in shares of CarParts.com by 441.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 886,718 shares of the specialty retailer’s stock worth $5,941,000 after acquiring an additional 722,888 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of CarParts.com by 271.3% in the 1st quarter. Renaissance Technologies LLC now owns 874,700 shares of the specialty retailer’s stock worth $5,860,000 after acquiring an additional 639,100 shares during the period. 84.41% of the stock is currently owned by institutional investors and hedge funds.

About CarParts.com (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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