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CarParts.com (PRTS) Dips More Than Broader Markets: What You Should Know
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CarParts.com (PRTS - Free Report) closed the most recent trading day at $7.05, moving -0.7% from the previous trading session. This change lagged the S&P 500's 0.03% loss on the day. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Heading into today, shares of the online auto parts retailer had gained 1% over the past month, lagging the Auto-Tires-Trucks sector's gain of 22.3% and the S&P 500's gain of 3.6% in that time.
Investors will be hoping for strength from CarParts.com as it approaches its next earnings release. On that day, CarParts.com is projected to report earnings of -$0.13 per share, which would represent 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. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PRTS in the coming trading sessions, be sure to utilize Zacks.com.
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CarParts.com (PRTS) Dips More Than Broader Markets: What You Should Know
CarParts.com (PRTS - Free Report) closed the most recent trading day at $7.05, moving -0.7% from the previous trading session. This change lagged the S&P 500's 0.03% loss on the day. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Heading into today, shares of the online auto parts retailer had gained 1% over the past month, lagging the Auto-Tires-Trucks sector's gain of 22.3% and the S&P 500's gain of 3.6% in that time.
Investors will be hoping for strength from CarParts.com as it approaches its next earnings release. On that day, CarParts.com is projected to report earnings of -$0.13 per share, which would represent 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. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PRTS in the coming trading sessions, be sure to utilize Zacks.com.