CarParts.com (NASDAQ:PRTS) Stock Rating Raised to Hold at Wall Street Zen
by Teresa Graham · The Cerbat GemWall Street Zen upgraded shares of CarParts.com (NASDAQ:PRTS – Free Report) to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
Separately, Weiss Ratings raised shares of CarParts.com from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 25th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CarParts.com currently has an average rating of “Reduce” and a consensus target price of $6.00.
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CarParts.com Price Performance
Shares of NASDAQ PRTS opened at $8.63 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $69.64 million, a price-to-earnings ratio of -1.99 and a beta of 0.68. CarParts.com has a twelve month low of $3.72 and a twelve month high of $10.98. The business has a 50 day simple moving average of $7.34 and a 200-day simple moving average of $7.18.
CarParts.com (NASDAQ:PRTS – Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $135.64 million for the quarter, compared to analysts’ expectations of $129.04 million. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.
Insiders Place Their Bets
In other CarParts.com news, COO Michael Huffaker acquired 36,580 shares of CarParts.com stock in a transaction dated 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 owned 139,560 shares in the company, valued at approximately $1,345,358.40. This represents a 35.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David Meniane acquired 36,643 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was acquired at an average cost of $9.64 per share, with a total value of $353,238.52. Following the completion of the acquisition, the chief executive officer directly owned 299,414 shares in the company, valued at approximately $2,886,350.96. This represents a 13.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 219,823 shares of company stock worth $2,000,649. Insiders own 6.60% of the company’s stock.
Institutional Trading of CarParts.com
An institutional investor recently raised its position in CarParts.com stock. Bank of America Corp DE grew its holdings in shares of CarParts.com, Inc. (NASDAQ:PRTS – Free Report) by 249.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 70,094 shares of the specialty retailer’s stock after acquiring an additional 50,045 shares during the quarter. Bank of America Corp DE owned about 0.09% of CarParts.com worth $55,000 as of its most recent SEC filing. 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.