CarParts.com Inc. (NASDAQ: PRTS) stock fell -0.58% on Friday to $8.54 against a previous-day closing price of $8.59. With 2.08 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.0 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $9.24 whereas the lowest price it dropped to was $8.25. The 52-week range on PRTS shows that it touched its highest point at $20.74 and its lowest point at $5.90 during that stretch. It currently has a 1-year price target of $16.00. Beta for the stock currently stands at 2.36.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PRTS was up-trending over the past week, with a rise of 9.07%, but this was up by 21.65% over a month. Three-month performance surged to 25.59% while six-month performance fell -9.53%. The stock lost -50.89% in the past year, while it has lost -23.75% so far this year. A look at the trailing 12-month EPS for PRTS yields -0.11 with Next year EPS estimates of -0.05. For the next quarter, that number is -0.04. This implies an EPS growth rate of -437.70% for this year and 64.30% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -30.10%.
Float and Shares Shorts:
At present, 53.25 million PRTS shares are outstanding with a float of 49.69 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.82 million, which was 10.77% higher than short shares on Jun 14, 2022. In addition to Mr. David Meniane as the firm’s CEO, Sr. VP & Director, Mr. Sanjiv Gomes serves as its Chief Information Officer.
Through their ownership of 80.89% of PRTS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.92% of PRTS, in contrast to 23.15% held by mutual funds. Shares owned by individuals account for 16.29%. As the largest shareholder in PRTS with 9.81% of the stake, Park West Asset Management LLC holds 5,301,916 shares worth 5,301,916. A second-largest stockholder of PRTS, Cannell Capital LLC, holds 3,449,900 shares, controlling over 6.38% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PRTS, holding 2,803,769 shares or 5.19% stake. With a 3.04% stake in PRTS, the Janus Henderson Venture Fund is the largest stakeholder. A total of 1,643,474 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.43% of PRTS stock, is the second-largest Mutual Fund holder. It holds 1,312,022 shares valued at 9.11 million. iShares Russell 2000 ETF holds 2.04% of the stake in PRTS, owning 1,101,406 shares worth 7.64 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRTS since 5 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PRTS analysts setting a high price target of $20.00 and a low target of $12.00, the average target price over the next 12 months is $16.00. Based on these targets, PRTS could surge 134.19% to reach the target high and rise by 40.52% to reach the target low. Reaching the average price target will result in a growth of 87.35% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PRTS will report FY 2022 earnings on 03/06/2023. Analysts have provided yearly estimates in a range of -$0.12 being high and -$0.18 being low. For PRTS, this leads to a yearly average estimate of -$0.14. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CarParts.com Inc. surprised analysts by $0.09 when it reported $0.07 EPS against a consensus estimate of -$0.02. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is -$0.05 and the low estimate is -$0.08. The average estimate for the next quarter is thus -$0.06.
Summary of Insider Activity:
Insiders traded PRTS stock several times over the past three months with 11 Buys and 2 Sells. In these transactions, 173,851 shares were bought while 12,472 shares were sold. The number of buy transactions has increased to 97 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 1,328,586 while 180,433 shares were sold.