CarParts.com (NASDAQ:PRTS) Shares Gap Down – Here’s What Happened

Shares of CarParts.com, Inc. (NASDAQ:PRTS) gapped down before the market opened on Tuesday . The stock had previously closed at $6.1930, but opened at $5.89. CarParts.com shares last traded at $6.3099, with a volume of 63,967 shares.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Wall Street Zen upgraded CarParts.com from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of CarParts.com in a report on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $6.00.

CarParts.com Trading Down 2.4%

The company has a market capitalization of $46.83 million, a P/E ratio of -0.94 and a beta of 0.84. The business has a fifty day moving average price of $7.95 and a 200 day moving average price of $6.41. The company has a quick ratio of 0.62, a current ratio of 1.67 and a debt-to-equity ratio of 0.52.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings results on Thursday, May 7th. The specialty retailer reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.85. The company had revenue of $131.96 million for the quarter, compared to analyst estimates of $131.38 million. CarParts.com had a negative return on equity of 61.91% and a negative net margin of 6.97%.

Institutional Trading of CarParts.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of CarParts.com by 13.2% in the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock valued at $119,000 after acquiring an additional 27,800 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of CarParts.com by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock valued at $676,000 after acquiring an additional 35,900 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CarParts.com by 14.9% in the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer’s stock valued at $325,000 after acquiring an additional 84,064 shares during the last quarter. Citadel Advisors LLC increased its position in shares of CarParts.com by 171.5% in the third quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer’s stock valued at $106,000 after acquiring an additional 93,971 shares during the last quarter. Finally, Private Management Group Inc. acquired a new stake in shares of CarParts.com in the third quarter valued at about $65,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

CarParts.com Company Profile

CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.

Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.