CarParts.com (NASDAQ:PRTS) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded CarParts.com (NASDAQ:PRTS) from a "hold" to a "sell," and other analysts including RBC and Weiss Ratings have cut guidance or reaffirmed sell views, leaving a consensus "Reduce" rating with a $0.50 price target.
• CarParts.com beat the quarter's expectations with EPS of ($0.17) versus ($0.24) and revenue of $120.43M, but remains unprofitable with a -9.21% net margin and -79.79% return on equity.
• Shares trade around $0.77 (52‑week range $0.37–$1.36) with a market cap of about $54.5M, roughly 75% institutional ownership, and recent hedge fund buying activity.

CarParts.com (NASDAQ:PRTS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada dropped their price objective on shares of CarParts.com from $0.60 to $0.50 and set a "sector perform" rating for the company in a report on Friday, March 6th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of CarParts.com in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $0.50.

CarParts.com Stock Performance

NASDAQ PRTS opened at $0.77 on Friday. CarParts.com has a 52-week low of $0.37 and a 52-week high of $1.36. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 1.66. The company has a market capitalization of $54.48 million, a P/E ratio of -0.90 and a beta of 0.78. The company has a fifty day moving average of $0.73 and a 200-day moving average of $0.62.

CarParts.com (NASDAQ:PRTS - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The specialty retailer reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.07. CarParts.com had a negative net margin of 9.21% and a negative return on equity of 79.79%. The company had revenue of $120.43 million during the quarter, compared to the consensus estimate of $118.91 million.

Institutional Trading of CarParts.com

Several hedge funds have recently added to or reduced their stakes in PRTS. Marshall Wace LLP lifted its stake in CarParts.com by 345.8% in the second quarter. Marshall Wace LLP now owns 68,546 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 53,170 shares during the last quarter. Jane Street Group LLC bought a new position in shares of CarParts.com during the second quarter valued at about $25,000. North Star Investment Management Corp. raised its stake in shares of CarParts.com by 183.3% during the third quarter. North Star Investment Management Corp. now owns 1,387,853 shares of the specialty retailer's stock valued at $987,000 after acquiring an additional 897,913 shares during the last quarter. Argentarii LLC bought a new position in shares of CarParts.com during the third quarter valued at about $36,000. Finally, Vanguard Group Inc. raised its stake in shares of CarParts.com by 2.3% during the third quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer's stock valued at $1,816,000 after acquiring an additional 56,857 shares during the last quarter. 75.30% of the stock is owned by institutional investors.

CarParts.com Company Profile

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.

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