CarParts.com (NASDAQ:PRTS) Price Target Lowered to $2.00 at Lake Street Capital

CarParts.com (NASDAQ:PRTS) had its target price decreased by Lake Street Capital from $3.00 to $2.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the specialty retailer’s stock.

Other equities analysts have also issued research reports about the stock. Craig Hallum reiterated a hold rating and set a $2.00 price target (down previously from $4.00) on shares of CarParts.com in a report on Wednesday, May 8th. Royal Bank of Canada reiterated a sector perform rating and set a $1.30 price target (down previously from $2.00) on shares of CarParts.com in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $2.33.

CarParts.com Trading Down 15.8 %

Shares of CarParts.com stock opened at $1.01 on Wednesday. CarParts.com has a fifty-two week low of $0.96 and a fifty-two week high of $5.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.56 and a current ratio of 1.63. The company’s 50 day moving average price is $1.12 and its two-hundred day moving average price is $1.66.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On CarParts.com

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in CarParts.com in the first quarter valued at $33,000. Oxford Asset Management LLP bought a new stake in CarParts.com in the fourth quarter valued at $47,000. Tower Research Capital LLC TRC increased its stake in CarParts.com by 380.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,146 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 11,992 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of CarParts.com by 94.8% during the fourth quarter. Mackenzie Financial Corp now owns 19,992 shares of the specialty retailer’s stock worth $63,000 after acquiring an additional 9,728 shares in the last quarter. Finally, Aristides Capital LLC bought a new stake in shares of CarParts.com during the fourth quarter worth about $80,000. 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.