Royal Bank of Canada Reaffirms Sector Perform Rating for CarParts.com (NASDAQ:PRTS)

Royal Bank of Canada reissued their sector perform rating on shares of CarParts.com (NASDAQ:PRTS) in a research report report published on Wednesday, Marketbeat Ratings reports. Royal Bank of Canada currently has a $1.30 price objective on the specialty retailer’s stock, down from their prior price objective of $2.00.

Separately, Craig Hallum reiterated a hold rating and set a $2.00 target price (down from $4.00) on shares of CarParts.com in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, CarParts.com presently has a consensus rating of Hold and a consensus price target of $2.33.

CarParts.com Price Performance

NASDAQ PRTS opened at $0.95 on Wednesday. The firm’s fifty day moving average price is $1.11 and its two-hundred day moving average price is $1.64. CarParts.com has a 1 year low of $0.93 and a 1 year high of $5.00. The company has a quick ratio of 0.56, a current ratio of 1.63 and a debt-to-equity ratio of 0.10.

CarParts.com (NASDAQ:PRTS) last issued its earnings results on Tuesday, July 30th. The specialty retailer reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). CarParts.com had a negative net margin of 3.75% and a negative return on equity of 21.00%. The firm had revenue of $144.27 million during the quarter. During the same quarter last year, the firm posted ($0.01) earnings per share.

Insiders Place Their Bets

In other news, Director Jay Keith Greyson bought 41,658 shares of the stock in a transaction dated Friday, May 10th. The shares were bought at an average price of $1.04 per share, for a total transaction of $43,324.32. Following the completion of the purchase, the director now owns 282,107 shares in the company, valued at $293,391.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other CarParts.com news, Director Jay Keith Greyson purchased 41,658 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average cost of $1.04 per share, with a total value of $43,324.32. Following the completion of the transaction, the director now owns 282,107 shares in the company, valued at $293,391.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jim Barnes acquired 94,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $1.10 per share, with a total value of $103,400.00. Following the acquisition, the director now directly owns 252,097 shares in the company, valued at $277,306.70. The disclosure for this purchase can be found here. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On CarParts.com

A number of large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in CarParts.com in the 1st quarter valued at $33,000. Oxford Asset Management LLP acquired a new stake in shares of CarParts.com during the 4th quarter worth $47,000. Tower Research Capital LLC TRC increased its position in shares of CarParts.com by 380.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,146 shares of the specialty retailer’s stock worth $48,000 after purchasing an additional 11,992 shares during the period. Mackenzie Financial Corp raised its stake in CarParts.com by 94.8% in the fourth quarter. Mackenzie Financial Corp now owns 19,992 shares of the specialty retailer’s stock valued at $63,000 after purchasing an additional 9,728 shares in the last quarter. Finally, Aristides Capital LLC bought a new stake in CarParts.com during the fourth quarter worth about $80,000. Institutional investors and hedge funds 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.