StockNews.com Upgrades CarParts.com (NASDAQ:PRTS) to Hold

CarParts.com (NASDAQ:PRTS) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

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 report on Thursday, March 6th.

CarParts.com Trading Up 9.9 %

Shares of PRTS opened at $1.00 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.10. The stock has a market cap of $57.40 million, a PE ratio of -1.85 and a beta of 2.11. CarParts.com has a 1 year low of $0.68 and a 1 year high of $1.66. The stock has a 50 day simple moving average of $1.08 and a 200-day simple moving average of $1.00.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings data on Tuesday, March 25th. The specialty retailer reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.08). The company had revenue of $588.85 million for the quarter, compared to analyst estimates 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

Institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp acquired a new stake in shares of CarParts.com in the fourth quarter valued at $264,000. Squarepoint Ops LLC bought a new position in CarParts.com in the fourth quarter valued at about $71,000. Two Sigma Advisers LP increased its position in CarParts.com by 349.2% in the fourth quarter. Two Sigma Advisers LP now owns 238,100 shares of the specialty retailer’s stock worth $257,000 after purchasing an additional 185,100 shares during the period. Two Sigma Investments LP raised its holdings in CarParts.com by 46.9% during the 4th quarter. Two Sigma Investments LP now owns 358,804 shares of the specialty retailer’s stock worth $388,000 after purchasing an additional 114,610 shares during the last quarter. Finally, Oaktop Capital Management II L.P. raised its holdings in CarParts.com by 23.4% during the 4th quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock worth $4,965,000 after purchasing an additional 872,117 shares during 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.