CarParts.com (NASDAQ:PRTS) Upgraded at StockNews.com

StockNews.com upgraded shares of CarParts.com (NASDAQ:PRTS) from a sell rating to a hold rating in a report issued on Tuesday.

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

CarParts.com Stock Performance

Shares of NASDAQ:PRTS opened at $0.99 on Tuesday. CarParts.com has a 12-month low of $0.68 and a 12-month high of $1.66. The company’s 50 day moving average price is $1.06 and its two-hundred day moving average price is $1.00. The firm has a market cap of $57.94 million, a PE ratio of -1.84 and a beta of 2.11. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.10.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings results on Tuesday, March 25th. The specialty retailer reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.08). CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%. The company had revenue of $588.85 million for the quarter, compared to analyst estimates of $141.22 million.

Hedge Funds Weigh In On CarParts.com

A number of institutional investors have recently modified their holdings of the business. Oaktop Capital Management II L.P. grew its position in CarParts.com by 23.4% in the fourth quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock valued at $4,965,000 after acquiring an additional 872,117 shares during the last quarter. Cannell Capital LLC bought a new stake in shares of CarParts.com during the 4th quarter valued at approximately $1,249,000. Assenagon Asset Management S.A. increased its position in CarParts.com by 145.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock worth $729,000 after purchasing an additional 399,901 shares in the last quarter. Kerrisdale Advisers LLC lifted its stake in CarParts.com by 19.0% in the 4th quarter. Kerrisdale Advisers LLC now owns 539,257 shares of the specialty retailer’s stock valued at $582,000 after purchasing an additional 86,004 shares during the last quarter. Finally, Manatuck Hill Partners LLC boosted its position in CarParts.com by 66.7% in the fourth quarter. Manatuck Hill Partners LLC now owns 500,000 shares of the specialty retailer’s stock valued at $540,000 after buying an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.

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.