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CarParts.com (PRTS) Gains As Market Dips: What You Should Know
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CarParts.com (PRTS - Free Report) closed the most recent trading day at $6.27, moving +1.62% from the previous trading session. This change outpaced the S&P 500's 0.3% loss on the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq gained 0.84%.
Prior to today's trading, shares of the online auto parts retailer had lost 9.66% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 4.75% and the S&P 500's loss of 2% in that time.
Wall Street will be looking for positivity from CarParts.com as it approaches its next earnings report date. This is expected to be March 7, 2023. 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 typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 currently has 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 183, which puts it in the bottom 28% 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.
To follow PRTS in the coming trading sessions, be sure to utilize Zacks.com.
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CarParts.com (PRTS) Gains As Market Dips: What You Should Know
CarParts.com (PRTS - Free Report) closed the most recent trading day at $6.27, moving +1.62% from the previous trading session. This change outpaced the S&P 500's 0.3% loss on the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq gained 0.84%.
Prior to today's trading, shares of the online auto parts retailer had lost 9.66% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 4.75% and the S&P 500's loss of 2% in that time.
Wall Street will be looking for positivity from CarParts.com as it approaches its next earnings report date. This is expected to be March 7, 2023. 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 typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 currently has 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 183, which puts it in the bottom 28% 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.
To follow PRTS in the coming trading sessions, be sure to utilize Zacks.com.