CarParts.com (NASDAQ:PRTS) Announces Earnings Results, Misses Estimates By $0.05 EPS

CarParts.com (NASDAQ:PRTS) released its earnings results on Tuesday. The specialty retailer reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05), Yahoo Finance reports. CarParts.com had a negative return on equity of 21.00% and a negative net margin of 3.75%. The company had revenue of $144.27 million for the quarter. During the same period last year, the firm earned ($0.01) earnings per share. CarParts.com updated its FY 2024 guidance to EPS.

CarParts.com Price Performance

Shares of CarParts.com stock opened at $0.99 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.56 and a debt-to-equity ratio of 0.10. CarParts.com has a 52 week low of $0.93 and a 52 week high of $5.00. The firm’s 50 day moving average is $1.11 and its two-hundred day moving average is $1.65.

Wall Street Analyst Weigh In

PRTS has been the subject of a number of analyst reports. Craig Hallum reissued a “hold” rating and set a $2.00 price objective (down from $4.00) on shares of CarParts.com in a research report on Wednesday, May 8th. Lake Street Capital lowered their price target on shares of CarParts.com from $3.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com downgraded shares of CarParts.com from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $1.30 price objective (down from $2.00) on shares of CarParts.com in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.33.

Insiders Place Their Bets

In related news, Director Jim Barnes bought 94,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average price of $1.10 per share, for a total transaction of $103,400.00. Following the acquisition, the director now owns 252,097 shares in the company, valued at approximately $277,306.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Jim Barnes bought 94,000 shares of CarParts.com stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average cost of $1.10 per share, with a total value of $103,400.00. Following the acquisition, the director now owns 252,097 shares of the company’s stock, valued at $277,306.70. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jay Keith Greyson bought 41,658 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average cost of $1.04 per share, with a total value of $43,324.32. Following the completion of the transaction, the director now owns 282,107 shares in the company, valued at $293,391.28. The disclosure for this purchase can be found here. 5.60% of the stock is owned by corporate insiders.

CarParts.com Company Profile

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.