CarParts.com (NASDAQ:PRTS) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

CarParts.com (NASDAQ:PRTS) posted its quarterly earnings data on Tuesday. The specialty retailer reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.05), Yahoo Finance reports. CarParts.com had a negative net margin of 3.75% and a negative return on equity of 21.00%. The business had revenue of $144.27 million during the quarter. During the same period last year, the company earned ($0.01) earnings per share. CarParts.com updated its FY 2024 guidance to EPS.

CarParts.com Stock Down 1.8 %

CarParts.com stock traded down $0.02 during mid-day trading on Thursday, reaching $0.99. The stock had a trading volume of 2,412,768 shares, compared to its average volume of 858,971. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.56 and a current ratio of 1.63. CarParts.com has a fifty-two week low of $0.93 and a fifty-two week high of $5.00. The stock’s 50-day simple moving average is $1.12 and its 200-day simple moving average is $1.66. The firm has a market capitalization of $56.21 million, a PE ratio of -3.57 and a beta of 2.01.

Analysts Set New Price Targets

A number of research analysts recently commented on PRTS shares. Lake Street Capital cut their target price on CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday. Craig Hallum restated a “hold” rating and issued a $2.00 target price (down previously from $4.00) on shares of CarParts.com in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $1.30 price objective (down previously from $2.00) on shares of CarParts.com in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, CarParts.com presently has an average rating of “Hold” and a consensus price target of $2.33.

Insider Activity

In other news, Director Jim Barnes bought 94,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $1.10 per share, for a total transaction of $103,400.00. Following the completion of the purchase, the director now directly owns 252,097 shares in the company, valued at approximately $277,306.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Jay Keith Greyson acquired 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 owns 282,107 shares in the company, valued at approximately $293,391.28. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jim Barnes bought 94,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average price of $1.10 per share, with a total value of $103,400.00. Following the acquisition, the director now owns 252,097 shares of the company’s stock, valued at $277,306.70. The disclosure for this purchase can be found here. Corporate insiders own 5.60% 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.