CarParts.com (NASDAQ:PRTS) Raised to “Hold” at StockNews.com

CarParts.com (NASDAQ:PRTS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Craig Hallum upgraded CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Thursday, March 6th.

CarParts.com Stock Performance

NASDAQ PRTS opened at $1.04 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.10. CarParts.com has a twelve month low of $0.68 and a twelve month high of $1.66. The business has a 50-day moving average price of $1.07 and a 200-day moving average price of $1.00. The firm has a market cap of $60.63 million, a price-to-earnings ratio of -1.93 and a beta of 2.11.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings data on Tuesday, March 25th. The specialty retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.08). CarParts.com had a negative net margin of 5.11% and a negative return on equity of 29.57%. The company had revenue of $588.85 million for the quarter, compared to analysts’ expectations of $141.22 million.

Institutional Investors Weigh In On CarParts.com

Large investors have recently bought and sold shares of the business. Mackenzie Financial Corp bought a new position in CarParts.com during the fourth quarter valued at $264,000. Squarepoint Ops LLC bought a new position in shares of CarParts.com in the 4th quarter valued at about $71,000. Two Sigma Advisers LP lifted its holdings in shares of CarParts.com by 349.2% in the 4th quarter. Two Sigma Advisers LP now owns 238,100 shares of the specialty retailer’s stock valued at $257,000 after acquiring an additional 185,100 shares during the last quarter. Two Sigma Investments LP grew its position in CarParts.com by 46.9% in the fourth quarter. Two Sigma Investments LP now owns 358,804 shares of the specialty retailer’s stock worth $388,000 after acquiring an additional 114,610 shares in the last quarter. Finally, Oaktop Capital Management II L.P. increased its stake in CarParts.com by 23.4% during the fourth quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock worth $4,965,000 after acquiring an additional 872,117 shares during the last quarter. Institutional investors own 75.30% of the company’s stock.

About CarParts.com

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.