CarParts.com (NASDAQ:PRTS) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of CarParts.com (NASDAQ:PRTS) from a hold rating to a sell rating in a research report report published on Wednesday morning.

PRTS has been the subject of a number of other research reports. Craig Hallum raised CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Thursday, March 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $0.80 price target on shares of CarParts.com in a research report on Wednesday.

CarParts.com Trading Down 13.2%

PRTS opened at $0.79 on Wednesday. The firm’s 50 day moving average is $0.92 and its 200-day moving average is $1.00. CarParts.com has a 52-week low of $0.68 and a 52-week high of $1.45. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $46.21 million, a P/E ratio of -1.46 and a beta of 1.52.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Tuesday, May 13th. The specialty retailer reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.15). CarParts.com had a negative return on equity of 29.57% and a negative net margin of 5.11%. The firm had revenue of $147.38 million for the quarter, compared to analysts’ expectations of $146.14 million.

Hedge Funds Weigh In On CarParts.com

Institutional investors have recently modified their holdings of the company. Cannell Capital LLC acquired a new stake in shares of CarParts.com in the fourth quarter valued at approximately $1,249,000. Oaktop Capital Management II L.P. raised its position in shares of CarParts.com by 23.4% during the 4th quarter. Oaktop Capital Management II L.P. now owns 4,597,302 shares of the specialty retailer’s stock worth $4,965,000 after buying an additional 872,117 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of CarParts.com by 145.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 675,371 shares of the specialty retailer’s stock valued at $729,000 after acquiring an additional 399,901 shares in the last quarter. AMH Equity Ltd bought a new position in shares of CarParts.com in the fourth quarter valued at approximately $368,000. Finally, Mackenzie Financial Corp acquired a new position in shares of CarParts.com during the fourth quarter valued at approximately $264,000. Institutional investors own 75.30% of the company’s stock.

About CarParts.com

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.