StockNews.com Lowers CarParts.com (NASDAQ:PRTS) to Sell

StockNews.com cut shares of CarParts.com (NASDAQ:PRTS) from a hold rating to a sell rating in a research report report published on Thursday.

A number of other equities research analysts also recently issued reports on PRTS. Royal Bank of Canada reissued a sector perform rating and set a $1.30 price target (down previously from $2.00) on shares of CarParts.com in a research report on Wednesday, July 31st. Lake Street Capital reduced their target price on CarParts.com from $3.00 to $2.00 and set a buy rating on the stock in a report on Wednesday, July 31st. Finally, Craig Hallum reaffirmed a hold rating and issued a $2.00 target price (down previously from $4.00) on shares of CarParts.com in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $2.33.

CarParts.com Trading Down 4.5 %

Shares of NASDAQ:PRTS opened at $0.95 on Thursday. The company has a market capitalization of $53.69 million, a P/E ratio of -3.51 and a beta of 2.02. CarParts.com has a 1 year low of $0.93 and a 1 year high of $5.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.63 and a quick ratio of 0.56. The business’s 50 day simple moving average is $1.11 and its 200 day simple moving average is $1.62.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings results on Tuesday, July 30th. The specialty retailer reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The company had revenue of $144.27 million for the quarter. CarParts.com had a negative return on equity of 21.00% and a negative net margin of 3.75%. During the same quarter in the prior year, the company earned ($0.01) earnings per share.

Insider Buying and Selling at CarParts.com

In other news, Director Jay Keith Greyson purchased 41,658 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was bought at an average cost of $1.04 per share, for a total transaction of $43,324.32. Following the purchase, the director now owns 282,107 shares of the company’s stock, valued at $293,391.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jim Barnes purchased 94,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $1.10 per share, for a total transaction of $103,400.00. Following the purchase, the director now owns 252,097 shares of the company’s stock, valued at $277,306.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jay Keith Greyson purchased 41,658 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $1.04 per share, with a total value of $43,324.32. Following the completion of the purchase, the director now directly owns 282,107 shares in the company, valued at approximately $293,391.28. The disclosure for this purchase can be found here. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its position in CarParts.com by 10.9% during the 4th quarter. SG Americas Securities LLC now owns 63,615 shares of the specialty retailer’s stock worth $201,000 after purchasing an additional 6,271 shares during the last quarter. Mackenzie Financial Corp raised its position in CarParts.com by 94.8% during the 4th quarter. Mackenzie Financial Corp now owns 19,992 shares of the specialty retailer’s stock worth $63,000 after purchasing an additional 9,728 shares during the last quarter. Tower Research Capital LLC TRC raised its position in CarParts.com by 380.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,146 shares of the specialty retailer’s stock worth $48,000 after purchasing an additional 11,992 shares during the last quarter. Oxford Asset Management LLP bought a new position in CarParts.com during the 4th quarter worth $47,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in CarParts.com during the 1st quarter worth $33,000. 75.30% of the stock is owned by institutional investors.

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.