CarParts.com (NASDAQ:PRTS) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Shares climbed above their 200-day moving average (200-day = $0.63) on Friday, trading as high as $0.7950 and last at $0.7891 on volume of 286,492 shares.
• Analyst sentiment is bearish with a consensus rating of "Reduce" and a consensus price target of $0.50 after RBC cut its target and Weiss Ratings reiterated a sell.
• CarParts.com beat estimates last quarter (EPS $(0.17) vs. $(0.24) expected; revenue $120.43M), but remains unprofitable with a negative net margin of 9.21% and negative ROE of 79.79%, and a market cap of about $55.6M.

Shares of CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.63 and traded as high as $0.7950. CarParts.com shares last traded at $0.7891, with a volume of 286,492 shares changing hands.

Analyst Ratings Changes

PRTS has been the subject of several recent research reports. Weiss Ratings restated a "sell (e+)" rating on shares of CarParts.com in a research report on Wednesday, January 21st. Royal Bank Of Canada decreased their price target on shares of CarParts.com from $0.60 to $0.50 and set a "sector perform" rating on the stock in a research report on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, CarParts.com presently has a consensus rating of "Reduce" and a consensus price target of $0.50.

CarParts.com Stock Down 1.0%

The company has a market cap of $55.62 million, a P/E ratio of -0.92 and a beta of 0.84. 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 business's fifty day moving average is $0.61 and its two-hundred day moving average is $0.63.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRTS. Vanguard Group Inc. lifted its position in 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. Mackenzie Financial Corp increased its stake in CarParts.com by 18.5% during the 4th quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer's stock valued at $880,000 after purchasing an additional 277,807 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of CarParts.com by 183.3% in the third quarter. North Star Investment Management Corp. now owns 1,387,853 shares of the specialty retailer's stock worth $987,000 after buying an additional 897,913 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of CarParts.com by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer's stock worth $676,000 after buying an additional 35,900 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of CarParts.com by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer's stock worth $325,000 after buying an additional 84,064 shares during the period. Hedge funds and other institutional investors own 75.30% of the company's stock.

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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