CarParts.com (NASDAQ:PRTS) Given New $0.80 Price Target at Royal Bank of Canada

CarParts.com (NASDAQ:PRTS) had its target price cut by Royal Bank of Canada from $0.90 to $0.80 in a research report report published on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the specialty retailer’s stock.

A number of other brokerages have also recently commented on PRTS. Lake Street Capital dropped their price target on shares of CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com cut shares of CarParts.com from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.20.

CarParts.com Stock Performance

Shares of PRTS stock opened at $0.83 on Wednesday. The stock has a market capitalization of $47.56 million, a P/E ratio of -2.02 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 0.51 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $0.84 and its 200 day moving average is $1.00. CarParts.com has a 12 month low of $0.68 and a 12 month high of $3.65.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings results on Tuesday, July 30th. The specialty retailer reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The business had revenue of $144.27 million for the quarter. CarParts.com had a negative net margin of 3.75% and a negative return on equity of 21.44%. During the same quarter in the prior year, the firm earned ($0.01) EPS.

Institutional Trading of CarParts.com

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in CarParts.com during the 1st quarter worth approximately $33,000. Cullen Frost Bankers Inc. bought a new position in shares of CarParts.com in the 2nd quarter worth $50,000. XTX Topco Ltd increased its holdings in shares of CarParts.com by 41.2% in the 2nd quarter. XTX Topco Ltd now owns 68,687 shares of the specialty retailer’s stock worth $69,000 after buying an additional 20,037 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CarParts.com in the 2nd quarter worth $93,000. Finally, Williams & Novak LLC bought a new position in shares of CarParts.com in the 2nd quarter worth $114,000. Institutional investors 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.