Renaissance Technologies LLC recently announced the acquisition of new stake in CarParts.com Inc. (NASDAQ:PRTS). The institutional investor has increased its shareholding in the Consumer Cyclical company by 68.83% to 2.86 million shares with purchase of 1.16 million shares. This fresh investment now brings its stake to 7.34% valued currently at $39.25 million. In addition, G2 Investment Partners Management.. raised its holdings by 1.72 million to 1.72 million shares. And BlackRock Fund Advisors has lifted its position by 1,976.06% or 1.43 million shares – to 1.5 million shares.
With over 1.94 million CarParts.com Inc. (PRTS) shares trading Monday and a closing price of $14.05 on the day, the dollar volume was approximately $27.29 million. The shares have shown a negative weekly performance of -3.37% and its price on 08/31/20 lost nearly -7.87%. Currently, there are 39.39M common shares owned by the public and among those 31.87M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for PRTS have a consensus price objective of $18.75. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $16.00 should the stock experience a downside. Incidentally, analysts’ outlook for the CarParts.com Inc. stock is 2.00 for the next 12 months. The average price target is 21.94% above its last price level and an upside to the estimated low will see the stock gain 12.19% over that period. But an upside of 29.75% will see the stock hit the forecast high price target while mean target price for the stock is $19.50.
Insiders at the company have transacted a total of 80 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 58 of these insider trades were purchases, accounting for 3,614,749 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 1,879,262 shares.
The top 3 mutual fund holders in CarParts.com Inc. are Northern Lights Fund Trust II – N, Vanguard Total Stock Market Index, and Northern Lights Fund Trust II – N. Northern Lights Fund Trust II – N owns 0.68 million shares of the company’s stock, all valued at over $9.28 million. The company sold -0.63 million shares recently to bring their total holdings to about 1.74% of the shares outstanding. Northern Lights Fund Trust II – N bought 0.5 million shares to bring its total holdings to over 0.5 million shares at a value of $6.87 million. Northern Lights Fund Trust II – N now owns shares totaling to 1.29% of the shares outstanding.
Shares of CarParts.com Inc. (NASDAQ: PRTS) opened at $15.30, up $0.05 from a prior closing price of $15.25. However, the script later closed the day at $14.05, down -7.87%. The company’s stock has a 5-day price change of -3.37% and 66.67% over the past three months. PRTS shares are trading 538.64% year to date (YTD), with the 12-month market performance up to 849.32% higher. It has a 12-month low price of $1.04 and touched a high of $16.44 over the same period. Currently, 1.94 million shares have been traded, compared to an average intraday trading volume of 1.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.18%, 15.99%, and 157.01% respectively.
Institutional ownership of CarParts.com Inc. (NASDAQ: PRTS) shares accounts for 45.00% of the company’s 39.39M shares outstanding. Mutual fund holders own 2.66%, while other institutional holders and individual stakeholders account for 34.28% and 13.21% respectively.
It has a market capitalization of $626.91M and a beta (3y monthly) value of 2.72. The earnings-per-share (ttm) stands at -$0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.14% over the week and 9.29% over the month.
Analysts forecast that CarParts.com Inc. (PRTS) will achieve an EPS of $0.01 for the current quarter, -$0.04 for the next quarter and $0.07 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -514.20%, and 800.00% over the next financial year. EPS should grow at an annualized rate of 15.00% over the next five years, compared to -33.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate CarParts.com Inc. (PRTS) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PRTS, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on January 08, 2020, with the firm’s price target at $4. Barrington Research coverage for the CarParts.com Inc. (PRTS) stock in a research note released on September 13, 2018 offered a Outperform rating with a price target of $5. ROTH Capital was of a view on October 09, 2014 that the stock is Buy, while Barrington Research gave the stock Underperform rating on August 22, 2012, issuing a price target of. Barrington Research on their part issued Mkt Perform rating on March 16, 2012.