CarParts.com (NASDAQ:PRTS) Rating Increased to Buy at Craig Hallum

CarParts.com (NASDAQ:PRTS) was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $3.00 target price on the specialty retailer’s stock. Craig Hallum’s target price indicates a potential upside of 141.94% from the stock’s current price.

Separately, StockNews.com upgraded shares of CarParts.com from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th.

CarParts.com Stock Performance

NASDAQ PRTS opened at $1.24 on Thursday. The stock has a market cap of $71.18 million, a PE ratio of -2.30 and a beta of 2.02. CarParts.com has a twelve month low of $0.68 and a twelve month high of $2.60. The stock has a fifty day simple moving average of $1.11 and a 200-day simple moving average of $0.97. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On CarParts.com

Hedge funds have recently bought and sold shares of the company. Cannell Capital LLC purchased a new stake in CarParts.com during the fourth quarter worth about $1,249,000. Oaktop Capital Management II L.P. increased its holdings in CarParts.com by 23.4% in the fourth quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock valued at $4,965,000 after buying an additional 872,117 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in CarParts.com by 236.5% during the 3rd quarter. GSA Capital Partners LLP now owns 1,233,829 shares of the specialty retailer’s stock worth $1,118,000 after buying an additional 867,140 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in CarParts.com by 145.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock worth $729,000 after buying an additional 399,901 shares during the last quarter. Finally, AMH Equity Ltd acquired a new position in shares of CarParts.com during the 4th quarter worth about $368,000. Institutional investors and hedge funds 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.