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

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

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

CarParts.com Stock Down 6.4 %

NASDAQ PRTS opened at $1.02 on Monday. The business has a fifty day moving average price of $1.11 and a two-hundred day moving average price of $0.99. The stock has a market capitalization of $58.55 million, a PE ratio of -1.89 and a beta of 2.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57. CarParts.com has a fifty-two week low of $0.68 and a fifty-two week high of $1.68.

CarParts.com (NASDAQ:PRTS) last posted its earnings results on Tuesday, March 25th. The specialty retailer reported ($0.27) earnings per share 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 the consensus estimate of $141.22 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cannell Capital LLC acquired a new position in CarParts.com in the fourth quarter valued at $1,249,000. Oaktop Capital Management II L.P. boosted 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 acquiring an additional 872,117 shares during the last quarter. Assenagon Asset Management S.A. grew its position in CarParts.com by 145.2% in 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. AMH Equity Ltd bought a new position in shares of CarParts.com in the fourth quarter valued at approximately $368,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of CarParts.com during the fourth quarter valued at approximately $264,000. 75.30% of the stock is 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.