CarParts.com (NASDAQ:PRTS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of CarParts.com (NASDAQ:PRTS) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Separately, Craig Hallum raised CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Thursday, March 6th.

CarParts.com Stock Performance

CarParts.com stock opened at $0.99 on Tuesday. The business has a 50 day moving average of $1.06 and a 200-day moving average of $1.00. The company has a market capitalization of $57.94 million, a P/E ratio of -1.84 and a beta of 2.11. CarParts.com has a 1 year low of $0.68 and a 1 year high of $1.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57.

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

Institutional Investors Weigh In On CarParts.com

A number of institutional investors have recently modified their holdings of the company. FMR LLC lifted its holdings in CarParts.com by 26.6% in the third quarter. FMR LLC now owns 426,441 shares of the specialty retailer’s stock valued at $386,000 after buying an additional 89,645 shares during the period. XTX Topco Ltd lifted its stake in shares of CarParts.com by 14.9% in the 3rd quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 10,230 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of 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 valued at $729,000 after purchasing an additional 399,901 shares in the last quarter. Williams & Novak LLC grew its stake in CarParts.com by 19.2% during the fourth quarter. Williams & Novak LLC now owns 151,500 shares of the specialty retailer’s stock worth $164,000 after purchasing an additional 24,400 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new stake in CarParts.com in the fourth quarter worth approximately $27,000. 75.30% of the stock is owned by institutional investors.

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.