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CarParts.com (PRTS) Outpaces Stock Market Gains: What You Should Know
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CarParts.com (PRTS - Free Report) closed the most recent trading day at $6.70, moving +1.52% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.29%. At the same time, the Dow added 0.78%, and the tech-heavy Nasdaq lost 4.94%.
Heading into today, shares of the online auto parts retailer had lost 1.93% over the past month, lagging the Auto-Tires-Trucks sector's gain of 28.83% and the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from CarParts.com as it approaches its next earnings report date. In that report, analysts expect CarParts.com to post earnings of -$0.13 per share. This would mark a year-over-year decline of 30%. Our most recent consensus estimate is calling for quarterly revenue of $152.4 million, up 10.23% from the year-ago period.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. CarParts.com is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 (PRTS) Outpaces Stock Market Gains: What You Should Know
CarParts.com (PRTS - Free Report) closed the most recent trading day at $6.70, moving +1.52% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.29%. At the same time, the Dow added 0.78%, and the tech-heavy Nasdaq lost 4.94%.
Heading into today, shares of the online auto parts retailer had lost 1.93% over the past month, lagging the Auto-Tires-Trucks sector's gain of 28.83% and the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from CarParts.com as it approaches its next earnings report date. In that report, analysts expect CarParts.com to post earnings of -$0.13 per share. This would mark a year-over-year decline of 30%. Our most recent consensus estimate is calling for quarterly revenue of $152.4 million, up 10.23% from the year-ago period.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. CarParts.com is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.