CarParts.com (NASDAQ:PRTS) Stock Rating Upgraded by Wall Street Zen

CarParts.com (NASDAQ:PRTS) was upgraded by analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised CarParts.com from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $6.00.

CarParts.com Price Performance

Shares of NASDAQ:PRTS opened at $8.63 on Friday. CarParts.com has a fifty-two week low of $3.72 and a fifty-two week high of $10.98. The business has a 50-day moving average of $7.34 and a two-hundred day moving average of $7.17. The stock has a market capitalization of $69.64 million, a P/E ratio of -1.99 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 0.66.

CarParts.com (NASDAQ:PRTS) last issued its quarterly earnings data on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.42. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.The business had revenue of $135.64 million for the quarter, compared to analyst estimates of $129.04 million.

Insider Activity

In other CarParts.com news, CEO David Meniane acquired 13,250 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average price of $10.06 per share, with a total value of $133,295.00. Following the transaction, the chief executive officer owned 312,664 shares of the company’s stock, valued at approximately $3,145,399.84. This trade represents a 4.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Huffaker acquired 13,250 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average cost of $10.06 per share, with a total value of $133,295.00. Following the transaction, the chief operating officer directly owned 152,810 shares in the company, valued at $1,537,268.60. The trade was a 9.49% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 219,823 shares of company stock worth $2,000,649. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of CarParts.com

An institutional investor recently raised its position in CarParts.com stock. Bank of America Corp DE boosted its holdings in CarParts.com, Inc. (NASDAQ:PRTS) by 249.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,094 shares of the specialty retailer’s stock after buying an additional 50,045 shares during the period. Bank of America Corp DE owned approximately 0.09% of CarParts.com worth $55,000 as of its most recent SEC filing. 75.30% of the stock is owned by institutional investors and hedge funds.

About CarParts.com

CarParts.com, Inc operates an e-commerce platform that sells automotive parts and accessories primarily to do-it-yourself consumers, professional installers and collision-repair businesses. The company’s product offerings include replacement parts for body, exterior, engine, brake, suspension, steering, drivetrain and electrical systems, as well as vehicle accessories and performance-related products.

The company serves customers across the United States through its CarParts.com website and related online channels.