CarParts.com (NASDAQ:PRTS) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded CarParts.com (NASDAQ:PRTS) from a "sell" rating to a "hold" in a note to investors.
• Despite the upgrade, analysts' consensus remains a "Reduce" rating with an average target price of $0.50; Royal Bank of Canada cut its target to $0.50 and Weiss Ratings reiterated a sell.
• PRTS opened at $0.87 (up 4.7%), with a market cap of about $61.3M and a 52-week range of $0.37–$1.36. The company beat quarterly EPS estimates (reported ($0.17) vs. ($0.24) expected) and revenue of $120.43M but still shows negative ROE and net margin.

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

A number of other research analysts have also recently weighed in on PRTS. Royal Bank Of Canada dropped their price target on CarParts.com from $0.60 to $0.50 and set a "sector perform" rating for the company in a research report on Friday, March 6th. Weiss Ratings restated a "sell (e+)" rating on shares of CarParts.com in a research 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. Based on data from MarketBeat.com, CarParts.com presently has a consensus rating of "Reduce" and an average target price of $0.50.

CarParts.com Stock Up 4.7%

PRTS stock opened at $0.87 on Friday. CarParts.com has a fifty-two week low of $0.37 and a fifty-two week high of $1.36. The firm has a market capitalization of $61.31 million, a price-to-earnings ratio of -1.01 and a beta of 0.78. The company's 50 day moving average price is $0.76 and its 200 day moving average price is $0.62. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 1.66.

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

Institutional Trading of CarParts.com

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in CarParts.com by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,554,101 shares of the specialty retailer's stock worth $1,816,000 after buying an additional 56,857 shares during the last quarter. Mackenzie Financial Corp boosted its stake in CarParts.com by 18.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer's stock worth $880,000 after buying an additional 277,807 shares during the last quarter. North Star Investment Management Corp. boosted its stake in CarParts.com by 183.3% in the 3rd 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 boosted its stake in CarParts.com by 2.7% in the 4th 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 last quarter. Finally, Geode Capital Management LLC boosted its stake in CarParts.com by 14.9% in the 4th 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 last quarter. 75.30% of the stock is owned by institutional investors and hedge funds.

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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