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CarParts.com (PRTS) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2-min read

CarParts.com (PRTS) closed at $6.90 in the latest trading session, marking a -1.99% move from the prior day. This move lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.44%.

Heading into today, shares of the online auto parts retailer had gained 23.08% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 8.38% and the S&P 500's gain of 4.57% in that time.

CarParts.com will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.13, down 30% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $152.4 million, up 10.23% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for CarParts.com. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CarParts.com is holding a Zacks Rank of #2 (Buy) right now.

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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CarParts.com, Inc. (PRTS) : Free Stock Analysis Report

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Zacks Investment Research