CarParts.com (NASDAQ:PRTS) Given New $7.00 Price Target at Royal Bank Of Canada

CarParts.com (NASDAQ:PRTS) had its price objective hoisted by Royal Bank Of Canada from $6.70 to $7.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a sector perform rating on the specialty retailer’s stock.

A number of other brokerages have also recently commented on PRTS. Weiss Ratings raised shares of CarParts.com from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wall Street Zen upgraded shares of CarParts.com to a “hold” rating in a research report on Saturday, October 3rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CarParts.com currently has an average rating of “Reduce” and an average price target of $7.00.

CarParts.com Stock Down 20.0%

Shares of NASDAQ PRTS opened at $6.90 on Friday. The business has a 50-day moving average price of $8.17 and a 200 day moving average price of $7.08. The stock has a market cap of $55.68 million, a PE ratio of -2.33 and a beta of 0.68. The company has a quick ratio of 0.66, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. CarParts.com has a 52-week low of $3.72 and a 52-week high of $10.98.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Thursday, October 29th. The specialty retailer reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.31. CarParts.com had a negative return on equity of 36.78% and a negative net margin of 4.03%. The company had revenue of $129.33 million for the quarter, compared to analyst estimates of $124.04 million.

Insider Activity at CarParts.com

In related news, Director Barry Phelps acquired 9,900 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was bought at an average cost of $6.48 per share, with a total value of $64,152.00. Following the transaction, the director owned 345,788 shares of the company’s stock, valued at $2,240,706.24. The trade was a 2.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed 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 on Wednesday, September 9th. The shares were bought at an average cost of $9.64 per share, with a total value of $353,238.52. Following the completion of the transaction, the chief executive officer directly owned 299,414 shares in the company, valued at $2,886,350.96. This trade represents a 13.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 219,823 shares of company stock worth $2,000,649 in the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On CarParts.com

An institutional investor recently raised its stake in CarParts.com stock. Bank of America Corp DE increased its stake in shares of CarParts.com, Inc. (NASDAQ:PRTS) by 249.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,094 shares of the specialty retailer’s stock after purchasing an additional 50,045 shares during the quarter. Bank of America Corp DE owned 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 is an e-commerce retailer specializing in replacement and aftermarket automotive parts and accessories. Through its online platform, the company serves owners, do-it-yourself customers, professional installers and collision-repair businesses seeking parts for cars, trucks and sport utility vehicles.

Its product offerings include collision and body components such as bumpers, fenders, hoods, mirrors and lighting, as well as mechanical parts for braking, suspension, steering, engine, transmission, exhaust and cooling systems.