CarParts.com (NASDAQ:PRTS) Stock Rating Upgraded by Craig Hallum

CarParts.com (NASDAQ:PRTS) was upgraded by research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a report released on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $3.00 price objective on the specialty retailer’s stock. Craig Hallum’s price target indicates a potential upside of 141.94% from the company’s current price.

Separately, StockNews.com upgraded shares of CarParts.com from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th.

CarParts.com Trading Up 40.7 %

Shares of NASDAQ:PRTS opened at $1.24 on Thursday. The firm has a market capitalization of $71.18 million, a price-to-earnings ratio of -2.30 and a beta of 2.02. The business’s 50 day moving average price is $1.11 and its 200-day moving average price is $0.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.62 and a quick ratio of 0.57. CarParts.com has a 1 year low of $0.68 and a 1 year high of $2.60.

Institutional Investors Weigh In On CarParts.com

A number of hedge funds have recently modified their holdings of PRTS. XTX Topco Ltd grew its position in shares of CarParts.com by 14.9% in the third quarter. XTX Topco Ltd now owns 78,917 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 10,230 shares in the last quarter. Northern Trust Corp raised its holdings in shares of CarParts.com by 8.6% during the 4th quarter. Northern Trust Corp now owns 138,525 shares of the specialty retailer’s stock worth $150,000 after acquiring an additional 10,954 shares during the period. Williams & Novak LLC boosted its position 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 acquiring an additional 24,400 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of CarParts.com in the fourth quarter valued at about $27,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of CarParts.com in the fourth quarter valued at about $39,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

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.