Zacks: Brokerages Expect CarParts.com, Inc. (NASDAQ:PRTS) Will Announce Quarterly Sales of $88.52 Million

Analysts predict that CarParts.com, Inc. (NASDAQ:PRTS) will post $88.52 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for CarParts.com’s earnings. The highest sales estimate is $99.46 million and the lowest is $77.58 million. CarParts.com posted sales of $69.27 million in the same quarter last year, which suggests a positive year-over-year growth rate of 27.8%. The company is scheduled to issue its next earnings results on Friday, November 6th.

On average, analysts expect that CarParts.com will report full-year sales of $373.22 million for the current year, with estimates ranging from $351.06 million to $395.38 million. For the next financial year, analysts expect that the company will post sales of $415.50 million, with estimates ranging from $382.66 million to $448.34 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover CarParts.com.

CarParts.com (NASDAQ:PRTS) last released its quarterly earnings results on Monday, August 10th. The specialty retailer reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. CarParts.com had a negative return on equity of 123.97% and a negative net margin of 7.65%. The firm had revenue of $118.93 million during the quarter, compared to the consensus estimate of $78.92 million.

A number of equities analysts have weighed in on PRTS shares. Barrington Research reaffirmed a “buy” rating and set a $15.00 price target on shares of CarParts.com in a research report on Friday, August 7th. Craig Hallum upped their price target on CarParts.com from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. ValuEngine raised CarParts.com from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Zacks Investment Research downgraded CarParts.com from a “buy” rating to a “hold” rating in a report on Friday, August 21st. Finally, BidaskClub downgraded CarParts.com from a “hold” rating to a “sell” rating in a report on Tuesday, September 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. CarParts.com currently has an average rating of “Buy” and an average target price of $17.40.

NASDAQ:PRTS opened at $12.34 on Friday. CarParts.com has a twelve month low of $1.04 and a twelve month high of $16.44. The company has a quick ratio of 0.39, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average price of $12.83 and a two-hundred day moving average price of $7.72. The company has a market cap of $583.94 million, a P/E ratio of -16.68 and a beta of 2.69.

In related news, major shareholder David Kanen sold 199,400 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $8.87, for a total value of $1,768,678.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Alfredo Gomez purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $14.84 per share, for a total transaction of $44,520.00. Following the purchase, the vice president now owns 126,483 shares in the company, valued at approximately $1,877,007.72. The disclosure for this purchase can be found here. In the last three months, insiders bought 16,130 shares of company stock valued at $202,027. 46.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EAM Investors LLC raised its stake in CarParts.com by 4.2% in the 1st quarter. EAM Investors LLC now owns 447,606 shares of the specialty retailer’s stock valued at $783,000 after acquiring an additional 17,887 shares during the period. RBF Capital LLC increased its position in CarParts.com by 14.2% during the 1st quarter. RBF Capital LLC now owns 354,000 shares of the specialty retailer’s stock worth $620,000 after buying an additional 44,133 shares during the period. RK Capital Management LLC bought a new position in CarParts.com during the 2nd quarter worth $3,006,000. Nuveen Asset Management LLC bought a new position in CarParts.com during the 2nd quarter worth $1,623,000. Finally, Russell Investments Group Ltd. bought a new position in CarParts.com during the 2nd quarter worth $1,414,000. Institutional investors and hedge funds own 35.14% of the company’s stock.

About CarParts.com

CarParts.com, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories primarily in the United States and the Philippines. It offers collision parts, such as parts for the exterior of an automobile; mirror products; engine parts comprising engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories to individual consumers through its network of e-commerce Websites and online marketplaces.

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