CarParts.com’s (PRTS) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of CarParts.com (NASDAQ:PRTS) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $0.80 target price on the specialty retailer’s stock.

A number of other brokerages also recently commented on PRTS. Craig Hallum upgraded shares of CarParts.com from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Thursday, March 6th. StockNews.com raised shares of CarParts.com from a “sell” rating to a “hold” rating in a research report on Tuesday, April 1st.

CarParts.com Trading Down 13.2%

Shares of CarParts.com stock opened at $0.79 on Wednesday. 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 cap of $46.21 million, a price-to-earnings ratio of -1.46 and a beta of 1.52. CarParts.com has a twelve month low of $0.68 and a twelve month high of $1.45. The business has a 50-day moving average price of $0.92 and a 200-day moving average price of $1.00.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its holdings in 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 purchasing an additional 399,901 shares during the last quarter. Williams & Novak LLC increased its holdings in shares of CarParts.com by 19.2% during the 4th quarter. Williams & Novak LLC now owns 151,500 shares of the specialty retailer’s stock valued at $164,000 after purchasing an additional 24,400 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of CarParts.com in the 4th quarter valued at $27,000. AMH Equity Ltd purchased a new stake in CarParts.com during the fourth quarter worth $368,000. Finally, Raymond James Financial Inc. acquired a new stake in CarParts.com during the fourth quarter valued at $39,000. Hedge funds and other 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.