CarParts.com (NASDAQ:PRTS) Lowered to “Sell” Rating by StockNews.com

CarParts.com (NASDAQ:PRTS) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

Separately, Craig Hallum raised shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Thursday, March 6th.

CarParts.com Stock Down 6.4 %

CarParts.com stock opened at $1.02 on Monday. The firm has a 50 day simple moving average of $1.11 and a 200 day simple moving average of $0.99. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10. CarParts.com has a 1-year low of $0.68 and a 1-year high of $1.68. The firm has a market capitalization of $58.55 million, a price-to-earnings ratio of -1.89 and a beta of 2.11.

CarParts.com (NASDAQ:PRTS) last announced 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). The firm had revenue of $588.85 million during the quarter, compared to analysts’ expectations of $141.22 million. CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%.

Hedge Funds Weigh In On CarParts.com

Hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd raised its holdings in shares of CarParts.com by 14.9% during the 3rd quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 10,230 shares in the last quarter. Northern Trust Corp grew its position in CarParts.com by 8.6% during the fourth quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock valued at $150,000 after acquiring an additional 10,954 shares during the last quarter. Williams & Novak LLC raised its stake in shares of CarParts.com by 19.2% during the fourth quarter. Williams & Novak LLC now owns 151,500 shares of the specialty retailer’s stock worth $164,000 after acquiring an additional 24,400 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of CarParts.com in the 4th quarter worth approximately $27,000. Finally, Raymond James Financial Inc. bought a new stake in shares of CarParts.com in the 4th quarter worth approximately $39,000. 75.30% of the stock is currently owned by hedge funds and other 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.