CarParts.com (NASDAQ:PRTS) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• CarParts.com shares moved above their 200-day moving average, reaching $8.99 and last trading at $8.61, compared with a 200-day average of $7.12.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” and an average price target of $6.00, below its recent trading price.
• The company exceeded quarterly revenue and EPS expectations, reporting $135.64 million in revenue and an adjusted loss of $0.43 per share, while insiders purchased approximately $2.0 million of stock over the past 90 days.

Shares of CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.12 and traded as high as $8.99. CarParts.com shares last traded at $8.61, with a volume of 37,182 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of CarParts.com in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $6.00.

CarParts.com Stock Down 0.2%

The stock has a market capitalization of $69.48 million, a price-to-earnings ratio of -1.99 and a beta of 0.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.66. The business has a fifty day moving average of $6.65 and a 200 day moving average of $7.12.

CarParts.com (NASDAQ:PRTS - Get Free Report) last posted its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.42. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.The company had revenue of $135.64 million during the quarter, compared to analysts' expectations of $129.04 million.

Insiders Place Their Bets

In related news, COO Michael Huffaker purchased 36,580 shares of the company's stock in a transaction on Wednesday, September 9th. The stock was acquired at an average cost of $9.64 per share, for a total transaction of $352,631.20. Following the completion of the transaction, the chief operating officer directly owned 139,560 shares in the company, valued at approximately $1,345,358.40. The trade was a 35.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Barry Phelps bought 9,900 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average price of $6.48 per share, with a total value of $64,152.00. Following the acquisition, the director directly owned 345,788 shares in the company, valued at $2,240,706.24. The trade was a 2.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 219,823 shares of company stock valued at $2,000,649 over the last 90 days. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in CarParts.com by 249.6% during the 1st quarter. Bank of America Corp DE now owns 70,094 shares of the specialty retailer's stock worth $55,000 after buying an additional 50,045 shares during the period. North Star Investment Management Corp. lifted its holdings in CarParts.com by 6.3% during the 1st quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer's stock worth $1,128,000 after buying an additional 85,000 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in CarParts.com in the 4th quarter valued at approximately $25,000. Hedge funds and other institutional investors own 75.30% of the company's stock.

CarParts.com Company Profile

CarParts.com, Inc operates an e-commerce platform that sells automotive parts and accessories primarily to do-it-yourself consumers, professional installers and collision-repair businesses. The company's product offerings include replacement parts for body, exterior, engine, brake, suspension, steering, drivetrain and electrical systems, as well as vehicle accessories and performance-related products.

The company serves customers across the United States through its CarParts.com website and related online channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.