CarParts.com (NASDAQ:PRTS) Receives “Hold” Rating from Craig Hallum

CarParts.com (NASDAQ:PRTS)‘s stock had its “hold” rating reaffirmed by equities research analysts at Craig Hallum in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $2.00 target price on the specialty retailer’s stock, down from their prior target price of $4.00. Craig Hallum’s price objective would indicate a potential upside of 75.10% from the company’s current price.

Separately, StockNews.com downgraded CarParts.com from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th.

CarParts.com Trading Down 1.5 %

Shares of NASDAQ:PRTS traded down $0.02 during mid-day trading on Wednesday, reaching $1.14. The stock had a trading volume of 1,457,880 shares, compared to its average volume of 691,338. The firm has a 50 day simple moving average of $1.63 and a two-hundred day simple moving average of $2.55. The company has a current ratio of 1.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.11. The firm has a market cap of $64.71 million, a PE ratio of -8.18 and a beta of 2.05. CarParts.com has a twelve month low of $0.99 and a twelve month high of $5.16.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Thursday, March 7th. The specialty retailer reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). CarParts.com had a negative net margin of 1.22% and a negative return on equity of 7.06%. The company had revenue of $156.40 million during the quarter, compared to analyst estimates of $150.60 million. During the same quarter last year, the company earned ($0.11) EPS.

Hedge Funds Weigh In On CarParts.com

A number of hedge funds have recently bought and sold shares of PRTS. Vanguard Group Inc. lifted its holdings in CarParts.com by 5.5% in the third quarter. Vanguard Group Inc. now owns 4,134,543 shares of the specialty retailer’s stock valued at $17,034,000 after acquiring an additional 214,238 shares during the period. Oaktop Capital Management II L.P. increased its stake in shares of CarParts.com by 11.5% in the fourth quarter. Oaktop Capital Management II L.P. now owns 3,725,185 shares of the specialty retailer’s stock worth $11,772,000 after purchasing an additional 383,426 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of CarParts.com by 15.3% during the 4th quarter. North Star Investment Management Corp. now owns 2,067,942 shares of the specialty retailer’s stock valued at $6,535,000 after purchasing an additional 273,965 shares during the period. Wasatch Advisors LP boosted its holdings in CarParts.com by 56.2% in the 4th quarter. Wasatch Advisors LP now owns 1,472,946 shares of the specialty retailer’s stock worth $4,655,000 after buying an additional 529,767 shares during the period. Finally, Acadian Asset Management LLC increased its stake in CarParts.com by 175.7% in the 3rd quarter. Acadian Asset Management LLC now owns 1,036,933 shares of the specialty retailer’s stock worth $4,271,000 after buying an additional 660,867 shares in the last quarter. Institutional investors own 75.30% of the company’s stock.

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.