CarParts.com Inc (NASDAQ: PRTS) stock jumped 2.92% on Friday to $3.17 against a previous-day closing price of $3.08. With 0.59 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.53 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $3.2100 whereas the lowest price it dropped to was $3.0500. The 52-week range on PRTS shows that it touched its highest point at $7.44 and its lowest point at $2.50 during that stretch. It currently has a 1-year price target of $6.60. Beta for the stock currently stands at 2.16.
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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 2.92%, but this was down by -12.67% over a month. Three-month performance dropped to -25.24% while six-month performance fell -24.52%. The stock lost -42.78% in the past year, while it has lost -49.36% so far this year. A look at the trailing 12-month EPS for PRTS yields -0.16 with Next year EPS estimates of -0.13. For the next quarter, that number is -0.11. This implies an EPS growth rate of -640.00% for this year and 13.51% for next year.
Float and Shares Shorts:
At present, 57.50 million PRTS shares are outstanding with a float of 52.78 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.93 million, which was 1.61% higher than short shares on Sep 28, 2023. In addition to Mr. David Meniane as the firm’s CEO & Director, Mr. Ryan Lockwood C.F.A. serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 76.45% of PRTS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.29% of PRTS, in contrast to 32.92% held by mutual funds. Shares owned by individuals account for 15.97%. As the largest shareholder in PRTS with 7.07% of the stake, The Vanguard Group, Inc. holds 4,030,407 shares worth 4,030,407. A second-largest stockholder of PRTS, BlackRock Fund Advisors, holds 3,746,677 shares, controlling over 6.57% of the firm’s shares. Polar Asset Management Partners, is the third largest shareholder in PRTS, holding 3,535,272 shares or 6.20% stake. With a 3.06% stake in PRTS, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,747,034 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.16% of PRTS stock, is the second-largest Mutual Fund holder. It holds 1,232,722 shares valued at 3.49 million. CREF Stock Account holds 2.01% of the stake in PRTS, owning 1,147,893 shares worth 3.25 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRTS since 0 analysts follow the stock currently. 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 $10.00 and a low target of $4.00, the average target price over the next 12 months is $6.60. Based on these targets, PRTS could surge 215.46% to reach the target high and rise by 26.18% to reach the target low. Reaching the average price target will result in a growth of 108.2% from current levels.
Summary of Insider Activity:
Insiders traded PRTS stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 1,386 shares were bought while 0 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 611,051 while 326,480 shares were sold.
