CarParts.com (NASDAQ:PRTS) Stock Breaks Above 50 Day Moving Average – Time to Sell?

Shares of CarParts.com, Inc. (NASDAQ:PRTS) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $8.34 and traded as high as $8.50. CarParts.com shares last traded at $8.35, with a volume of 25,226 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on PRTS shares. Weiss Ratings raised CarParts.com from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, October 29th. Wall Street Zen raised CarParts.com to a “hold” rating in a report on Saturday, October 3rd. Finally, Royal Bank Of Canada upped their price objective on CarParts.com from $6.70 to $7.00 and gave the stock a “sector perform” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $7.00.

CarParts.com Price Performance

The stock’s fifty day simple moving average is $8.37 and its 200-day simple moving average is $7.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.70 and a quick ratio of 0.68.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Thursday, October 29th. The specialty retailer reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.31. CarParts.com had a negative return on equity of 37.30% and a negative net margin of 4.03%. The business had revenue of $129.33 million for the quarter, compared to analysts’ expectations of $124.04 million.

Insider Buying and Selling at CarParts.com

In other news, COO Michael Huffaker purchased 13,250 shares of the business’s stock in a transaction dated 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 purchase, the chief operating officer directly owned 152,810 shares of the company’s stock, valued at $1,537,268.60. This represents a 9.49% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Meniane purchased 13,250 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average cost of $10.06 per share, with a total value of $133,295.00. Following the purchase, the chief executive officer directly owned 312,664 shares in the company, valued at approximately $3,145,399.84. The trade was a 4.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 219,823 shares of company stock worth $2,000,649 in the last three months. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CarParts.com

A hedge fund recently raised its position in CarParts.com stock. Bank of America Corp DE boosted its holdings in shares of CarParts.com, Inc. (NASDAQ:PRTS) by 249.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,094 shares of the specialty retailer’s stock after acquiring an additional 50,045 shares during the period. Bank of America Corp DE owned about 0.09% of CarParts.com worth $55,000 at the end of the most recent reporting period. 75.30% of the stock is owned by institutional investors.

CarParts.com Company Profile

CarParts.com, Inc. is an e-commerce retailer specializing in replacement and aftermarket automotive parts and accessories. Through its online platform, the company serves owners, do-it-yourself customers, professional installers and collision-repair businesses seeking parts for cars, trucks and sport utility vehicles. Its product offerings include collision and body components such as bumpers, fenders, hoods, mirrors and lighting, as well as mechanical parts for braking, suspension, steering, engine, transmission, exhaust and cooling systems.