CarParts.com (NASDAQ:PRTS) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

CarParts.com (NASDAQ:PRTS) released its quarterly earnings results on Tuesday. The specialty retailer reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06), Zacks reports. CarParts.com had a negative net margin of 5.11% and a negative return on equity of 28.79%. The business had revenue of $144.75 million for the quarter. CarParts.com updated its FY 2024 guidance to EPS.

CarParts.com Trading Down 1.3 %

Shares of NASDAQ:PRTS traded down $0.01 during mid-day trading on Friday, hitting $0.82. The stock had a trading volume of 294,768 shares, compared to its average volume of 787,357. CarParts.com has a 12-month low of $0.68 and a 12-month high of $3.65. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.51 and a current ratio of 1.67. The company has a market cap of $46.91 million, a PE ratio of -1.51 and a beta of 2.06. The company’s 50 day moving average is $0.84 and its 200-day moving average is $1.00.

Wall Street Analyst Weigh In

PRTS has been the subject of several recent analyst reports. StockNews.com cut CarParts.com from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Lake Street Capital dropped their target price on CarParts.com from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reduced their target price on shares of CarParts.com from $0.90 to $0.80 and set a “sector perform” rating for the company in a report on Wednesday.

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.