CarParts.com Inc. [NASDAQ: PRTS] stock went on an upward path that rose over 1.68% on Wednesday, amounting to a one-week price decrease of less than -2.65%. 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.
Over the last 12 months, PRTS stock rose by 491.38%. The average equity rating for PRTS stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $487.44 million, with 39.39 million shares outstanding and 34.69 million shares in the current float. Compared to the average trading volume of 1.52M shares, PRTS stock reached a trading volume of 1882175 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on CarParts.com Inc. [PRTS]:
ROTH Capital have made an estimate for CarParts.com Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 09, 2020. While these analysts kept the previous recommendation, DA Davidson raised their target price to Buy. The new note on the price target was released on September 01, 2020, representing the official price target for CarParts.com Inc. stock. Previously, the target price had yet another raise to $4, while Craig Hallum analysts kept a Buy rating on PRTS stock.
The Average True Range (ATR) for CarParts.com Inc. is set at 1.15, with the Price to Sales ratio for PRTS stock in the period of the last 12 months amounting to 1.44. The Price to Book ratio for the last quarter was 19.79. Price to Free Cash Flow for PRTS in the course of the last twelve months was 21.66 with Quick ratio for the last quarter at 0.40.
PRTS Stock Performance Analysis:
CarParts.com Inc. [PRTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.65. With this latest performance, PRTS shares dropped by -25.81% in over the last four-week period, additionally plugging by 651.09% over the last 6 months – not to mention a rise of 491.38% 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 35.91, with the RSI for the last a single of trading hit 33.54, and the three-weeks RSI is set at 40.80 for CarParts.com Inc. [PRTS]. The present Moving Average for the last 50 days of trading for this stock 12.64, while it was recorded at 9.92 for the last single week of trading, and 5.98 for the last 200 days.
Insight into CarParts.com Inc. 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.
PRTS Stock EPS
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 Position Details
There are presently around $171 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 $17.73 million in PRTS stocks shares; and BLACKROCK INC., currently with $16.95 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.