CarParts.com Inc. [PRTS] moved down -2.53: Why It’s Important

CarParts.com Inc. [NASDAQ: PRTS] closed the trading session at $14.66 on 08/27/20. The day’s price range saw the stock hit a low of $14.17, while the highest price level was $15.22. The company report on August 18, 2020 that CarParts.com Announces Closing of Public Offering of Common Stock and Full Exercise of the Underwriters’ Over-Allotment Option.

CarParts.com, Inc. (NASDAQ: PRTS) (“CarParts.com”), one of the leading e-commerce providers of automotive parts and accessories, today announced the closing of its underwritten public offering of 6,900,000 shares of its common stock at a price to the public of $13.00 per share, which includes the full exercise of the underwriters’ option to purchase up to 900,000 additional shares of common stock. CarParts.com sold 4,900,000 shares of its common stock and the selling stockholder sold 2,000,000 shares of common stock. The gross proceeds to CarParts.com from the offering, before underwriting discounts and commissions and offering costs, was $63,700,000. CarParts.com did not receive any proceeds from the sale of the shares by the selling stockholder.

RBC Capital Markets acted as the sole book-runner, and Craig-Hallum Capital Group acted as the sole lead manager for the offering. D.A. Davidson & Co. and Roth Capital Partners acted as co-managers for the offering.

The stocks have a year to date performance of 566.36 percent and weekly performance of -2.53 percent. The stock has been moved at 521.19 percent over the last six months. The stock has performed 12.25 percent around the most recent 30 days and changed 110.33 percent over the most recent 3-months.

If compared to the average trading volume of 1.34M shares, PRTS reached to a volume of 1480072 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about CarParts.com Inc. [PRTS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRTS shares is $18.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRTS stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for CarParts.com Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 08, 2020. While these analysts kept the previous recommendation, Barrington Research raised their target price to Outperform. The new note on the price target was released on September 13, 2018, representing the official price target for CarParts.com Inc. stock. Previously, the target price had yet another raise to $4.50, while ROTH Capital analysts kept a Buy rating on PRTS stock.

The Average True Range (ATR) for CarParts.com Inc. is set at 1.20, with the Price to Sales ratio for PRTS stock in the period of the last 12 months amounting to 2.04. The Price to Book ratio for the last quarter was 28.19. Price to Free Cash Flow for PRTS in the course of the last twelve months was 30.78 with Quick ratio for the last quarter at 0.40.

PRTS stock trade performance evaluation

CarParts.com Inc. [PRTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.53. With this latest performance, PRTS shares gained by 12.25% in over the last four-week period, additionally plugging by 521.19% over the last 6 months – not to mention a rise of 1040.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRTS stock in for the last two-week period is set at 60.07, with the RSI for the last a single of trading hit 56.41, and the three-weeks RSI is set at 61.13 for CarParts.com Inc. [PRTS]. The present Moving Average for the last 50 days of trading for this stock 11.98, while it was recorded at 14.68 for the last single week of trading, and 5.40 for the last 200 days.

CarParts.com Inc. [PRTS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and CarParts.com Inc. [PRTS] shares currently have an operating margin of -2.94 and a Gross Margin at +27.75. CarParts.com Inc.’s Net Margin is presently recorded at -11.24.

Return on Total Capital for PRTS is now -16.39, given the latest momentum, and Return on Invested Capital for the company is -86.59. Return on Equity for this stock declined to -123.23, with Return on Assets sitting at -33.93. When it comes to the capital structure of this company, CarParts.com Inc. [PRTS] has a Total Debt to Total Equity ratio set at 233.07. Additionally, PRTS Total Debt to Total Capital is recorded at 69.98, with Total Debt to Total Assets ending up at 32.81. Long-Term Debt to Equity for the company is recorded at 105.89, with the Long-Term Debt to Total Capital now at 31.78.

Reflecting on the efficiency of the workforce at the company, CarParts.com Inc. [PRTS] managed to generate an average of -$37,423 per employee. Receivables Turnover for the company is 87.76 with a Total Asset Turnover recorded at a value of 3.02.CarParts.com Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 1.10.

Earnings per share (EPS) analysis for CarParts.com Inc. [PRTS] stock

With the latest financial reports released by the company, CarParts.com Inc. posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRTS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CarParts.com Inc. go to 15.00%.

CarParts.com Inc. [PRTS]: Insider Ownership positions

There are presently around $244 million, or 45.00% of PRTS stock, in the hands of institutional investors. The top three institutional holders of PRTS stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 2,855,855, which is approximately 68.83% of the company’s market cap and around 4.10% of the total institutional ownership; G2 INVESTMENT PARTNERS MANAGEMENT LLC, holding 1,723,134 shares of the stock with an approximate value of $25.26 million in PRTS stocks shares; and BLACKROCK INC., currently with $24.14 million in PRTS stock with ownership of nearly 1991.779% of the company’s market capitalization.

Positions in CarParts.com Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 73 institutional holders increased their position in CarParts.com Inc. [NASDAQ:PRTS] by around 9,148,668 shares. Additionally, 14 investors decreased positions by around 3,754,708 shares, while 3 investors held positions by with 3,729,395 shares. The mentioned changes placed institutional holdings at 16,632,771 shares, according to the latest SEC report filing. PRTS stock had 58 new institutional investments in for a total of 5,768,530 shares, while 8 institutional investors sold positions of 2,026,718 shares during the same period.

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