CarParts.com, Inc. (NASDAQ: PRTS) (“CarParts.com”) announced plans to open its sixth distribution center in Jacksonville, Fl. in Q1 of 2022. The Jacksonville distribution center will add 150 full-time positions and an additional 180,000 square feet to CarParts.com’s more than 1 million square feet of warehouse space nationwide.
In May, the company reported 1Q21 results and the shares have been slowly rising since. CarParts.com reported 65% yoy growth in quarterly sales, to a record level of $144.8 million, and marked its 5th quarter in a row of year-over-year revenue gains. The company saw gross profits of $49.2 million, also up 65%.
Currently 24.6% of the float is short
Of all the analysts that have looked at the stock, they all have a buy or strong buy rating.
I’m long with 1000 shares at 16.55
I believe this is a 40 dollar stock trading at 18