CarParts.com (NASDAQ:PRTS) Shares to Reverse Split on Tuesday, May 26th

Shares of CarParts.com, Inc. (NASDAQ:PRTS) are going to reverse split on the morning of Tuesday, May 26th. The 1-10 reverse split was announced on Thursday, May 21st. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, May 25th.

CarParts.com Price Performance

NASDAQ:PRTS opened at $0.64 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.67 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $0.81 and its 200 day moving average price is $0.64. CarParts.com has a 52-week low of $0.37 and a 52-week high of $1.36. The firm has a market cap of $51.82 million, a P/E ratio of -1.04 and a beta of 0.84.

CarParts.com (NASDAQ:PRTS) last released its earnings results on Thursday, May 7th. The specialty retailer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. CarParts.com had a negative net margin of 6.97% and a negative return on equity of 61.91%. The business had revenue of $131.96 million for the quarter, compared to the consensus estimate of $131.38 million.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PRTS shares. Royal Bank Of Canada increased their price target on CarParts.com from $0.50 to $0.60 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Weiss Ratings restated 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 research note on Sunday, April 19th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $0.60.

Institutional Trading of CarParts.com

Several large investors have recently added to or reduced their stakes in PRTS. State Street Corp boosted its position in shares of CarParts.com by 13.2% in the fourth quarter. State Street Corp now owns 237,938 shares of the specialty retailer’s stock worth $119,000 after buying an additional 27,800 shares during the period. Jane Street Group LLC acquired a new position in CarParts.com during the second quarter valued at $25,000. Renaissance Technologies LLC raised 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 valued at $676,000 after buying an additional 35,900 shares during the period. Williams & Novak LLC lifted its stake in CarParts.com by 27.7% in the 4th quarter. Williams & Novak LLC now owns 188,500 shares of the specialty retailer’s stock worth $94,000 after acquiring an additional 40,900 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in CarParts.com in the 4th quarter worth about $25,000. 75.30% of the stock is owned by institutional investors and hedge funds.

About CarParts.com

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.