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

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

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

CarParts.com Stock Performance

Shares of NASDAQ:PRTS opened at $1.04 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10. CarParts.com has a 12 month low of $0.68 and a 12 month high of $1.66. The company has a market capitalization of $60.63 million, a price-to-earnings ratio of -1.93 and a beta of 2.11. The firm’s 50-day moving average is $1.07 and its 200 day moving average is $1.00.

CarParts.com (NASDAQ:PRTS) last released its earnings results on Tuesday, March 25th. The specialty retailer reported ($0.27) 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 business had revenue of $588.85 million for the quarter, compared to the consensus estimate of $141.22 million.

Hedge Funds Weigh In On CarParts.com

A number of institutional investors have recently modified their holdings of PRTS. Thompson Davis & CO. Inc. bought a new position in CarParts.com in the fourth quarter worth approximately $27,000. Raymond James Financial Inc. purchased a new stake in shares of CarParts.com in the 4th quarter worth $39,000. Squarepoint Ops LLC bought a new position in shares of CarParts.com during the 4th quarter worth $71,000. XTX Topco Ltd increased its stake in shares of CarParts.com by 14.9% during the third quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 10,230 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of CarParts.com by 8.6% in the fourth quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock valued at $150,000 after acquiring an additional 10,954 shares in the last quarter. 75.30% of the stock is owned by hedge funds and other 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.