CarParts.com (NASDAQ:PRTS) Earns “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of CarParts.com (NASDAQ:PRTS) in a report published on Wednesday, Marketbeat Ratings reports. The firm currently has a $1.30 target price on the specialty retailer’s stock, down from their prior target price of $2.00.

Separately, Craig Hallum reissued a hold rating and issued a $2.00 price objective (down from $4.00) on shares of CarParts.com in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $2.33.

CarParts.com Trading Down 4.5 %

Shares of PRTS opened at $0.95 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.63 and a quick ratio of 0.56. CarParts.com has a 12 month low of $0.93 and a 12 month high of $5.00. The stock has a market cap of $53.69 million, a PE ratio of -3.51 and a beta of 2.02. The stock’s 50-day moving average is $1.11 and its two-hundred day moving average is $1.63.

CarParts.com (NASDAQ:PRTS) last released its quarterly 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 return on equity of 21.00% and a negative net margin of 3.75%. During the same period in the previous year, the company posted ($0.01) EPS.

Insider Buying and Selling at CarParts.com

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

Institutional Trading of CarParts.com

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake 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 buying an additional 6,271 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of CarParts.com by 94.8% in the 4th 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 during the period. Tower Research Capital LLC TRC lifted its position in CarParts.com by 380.2% in the 4th 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 during the last quarter. Oxford Asset Management LLP bought a new position in CarParts.com in the 4th quarter worth about $47,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CarParts.com in the first quarter valued at approximately $33,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

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.