Craig Hallum Reaffirms Hold Rating for CarParts.com (NASDAQ:PRTS)

CarParts.com (NASDAQ:PRTS - Get Free Report)'s stock had its "hold" rating reiterated by Craig Hallum in a report issued on Wednesday, Benzinga reports. They currently have a $2.00 price target on the specialty retailer's stock, down from their previous price target of $4.00. Craig Hallum's price target indicates a potential upside of 76.99% from the stock's previous close.

Separately, StockNews.com downgraded shares of CarParts.com from a "buy" rating to a "hold" rating in a research note on Thursday, March 7th.

CarParts.com Trading Down 2.6 %

NASDAQ:PRTS traded down $0.03 during trading hours on Wednesday, reaching $1.13. 3,350,411 shares of the stock were exchanged, compared to its average volume of 713,385. CarParts.com has a twelve month low of $0.99 and a twelve month high of $5.16. The company has a quick ratio of 0.57, a current ratio of 1.71 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average of $1.61 and a two-hundred day moving average of $2.54. The company has a market capitalization of $64.01 million, a price-to-earnings ratio of -8.07 and a beta of 2.05.

CarParts.com (NASDAQ:PRTS - Get Free Report) last announced its earnings results on Thursday, March 7th. The specialty retailer reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). The firm had revenue of $156.40 million for the quarter, compared to analysts' expectations of $150.60 million. CarParts.com had a negative net margin of 1.22% and a negative return on equity of 7.06%. During the same quarter last year, the business earned ($0.11) earnings per share.

Institutional Investors Weigh In On CarParts.com

Several hedge funds have recently made changes to their positions in PRTS. Vanguard Group Inc. raised its stake in CarParts.com by 5.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,134,543 shares of the specialty retailer's stock valued at $17,034,000 after acquiring an additional 214,238 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of CarParts.com during the fourth quarter worth approximately $95,000. Barclays PLC lifted its holdings in shares of CarParts.com by 103.9% during the third quarter. Barclays PLC now owns 86,446 shares of the specialty retailer's stock worth $356,000 after purchasing an additional 44,056 shares during the period. Acadian Asset Management LLC grew its position in CarParts.com by 175.7% in the 3rd quarter. Acadian Asset Management LLC now owns 1,036,933 shares of the specialty retailer's stock valued at $4,271,000 after buying an additional 660,867 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in CarParts.com by 488.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 131,430 shares of the specialty retailer's stock valued at $415,000 after buying an additional 109,107 shares during the period. Institutional investors and hedge funds own 75.30% of the company's stock.

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.