CarParts.com (NASDAQ:PRTS) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of CarParts.com, Inc. (NASDAQ:PRTS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.52 and traded as high as $6.78. CarParts.com shares last traded at $6.41, with a volume of 10,040 shares traded.

Analyst Ratings Changes

PRTS has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on CarParts.com from $5.00 to $6.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of CarParts.com in a report on Monday, April 20th. Finally, Wall Street Zen raised shares of CarParts.com from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $6.00.

CarParts.com Price Performance

The company has a current ratio of 1.67, a quick ratio of 0.62 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $7.41 and a 200-day simple moving average of $6.53. The stock has a market cap of $51.35 million, a price-to-earnings ratio of -1.02 and a beta of 0.70.

CarParts.com (NASDAQ:PRTS) last announced its quarterly earnings results on Thursday, May 7th. The specialty retailer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $1.12. The business had revenue of $131.96 million for the quarter, compared to the consensus estimate of $131.38 million. CarParts.com had a negative net margin of 6.97% and a negative return on equity of 61.91%.

Institutional Trading of CarParts.com

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of CarParts.com by 13.2% during the 4th quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock worth $119,000 after acquiring an additional 27,800 shares during the last quarter. Jane Street Group LLC bought a new position in CarParts.com during the second quarter worth $25,000. Renaissance Technologies LLC boosted its position in CarParts.com by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,352,700 shares of the specialty retailer’s stock worth $676,000 after purchasing an additional 35,900 shares during the period. Williams & Novak LLC increased its holdings in shares of CarParts.com by 27.7% in the fourth quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock valued at $94,000 after purchasing an additional 40,900 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of CarParts.com in the fourth quarter valued at $25,000. 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.