Analysts Predict An CarParts.com Inc (NASDAQ: PRTS) Spike?

CarParts.com Inc (NASDAQ:PRTS) shares, rose in value, with the stock price down by -2.81% to the previous day’s close as strong demand from buyers drove the stock to $1.73.

Actively observing the price movement in the last trading, the stock closed the session at $1.78. The value of beta (5-year monthly) was 2.02. Referring to stock’s 52-week performance, its high was $5.97, and the low was $1.73. On the whole, PRTS has fluctuated by -33.72% over the past month.

With the market capitalization of CarParts.com Inc currently standing at about $97.92 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 30, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.1, which is expected to increase to -$0.03 for fiscal year -$0.35 and then to about -$0.25 by fiscal year 2025. Data indicates that the EPS growth is expected to be -133.30% in 2025, while the next year’s EPS growth is forecast to be 28.60%.

Analysts have estimated the company’s revenue for the quarter at $167.74 million, with a low estimate of $166.7 million and a high estimate of $169.37 million. According to the average forecast, sales growth in current quarter could jump down -4.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $674.65 million, representing a decrease of -0.20% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PRTS’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PRTS currently trading nearly -29.77% and -36.37% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 21.38, while the 7-day volatility ratio is showing 12.38% which for the 30-day chart, stands at 6.19%. Furthermore, CarParts.com Inc (PRTS)’s beta value is 2.02, and its average true range (ATR) is 0.16.

A comparison of CarParts.com Inc (PRTS) with its peers suggests the former has fared considerably weaker in the market. PRTS showed an intraday change of -2.81% in last session, and over the past year, it shrunk by -69.97%%.

Data on historical trading for CarParts.com Inc (NASDAQ:PRTS) indicates that the trading volumes over the past 10 days have averaged 1.27 million and over the past 3 months, they’ve averaged 624.44K. According to company’s latest data on outstanding shares, there are 53.71 million shares outstanding.

Nearly 8.56% of CarParts.com Inc’s shares belong to company insiders and institutional investors own 75.34% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.44 million shares as on Feb 29, 2024, resulting in a short ratio of 2.55. According to the data, the short interest in CarParts.com Inc (PRTS) stood at 2.54% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 1.17 million. The stock has fallen by -45.25% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PRTS stock heading into the next quarter.

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