Zacks Investment Research Lowers U.S. Auto Parts Network (PRTS) to Hold

Zacks Investment Research lowered shares of U.S. Auto Parts Network (NASDAQ:PRTS) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “US AUTO PARTS NETWORK, INC., is a leading online provider of automotive aftermarket parts, including body parts, engine parts, performance parts and accessories. Through the Company’s network of websites, U.S. Auto Parts provides individual consumers with a broad selection of competitively priced products that are mapped by a proprietary product database to product applications based on vehicle makes, models and years. “

PRTS has been the subject of several other reports. Barrington Research began coverage on shares of U.S. Auto Parts Network in a research report on Thursday, September 13th. They set an outperform rating and a $5.00 target price for the company. ValuEngine lowered shares of U.S. Auto Parts Network from a buy rating to a hold rating in a research report on Tuesday, October 2nd.

Shares of PRTS stock traded down $0.01 during trading hours on Tuesday, reaching $1.23. The company had a trading volume of 2,652 shares, compared to its average volume of 182,288. U.S. Auto Parts Network has a one year low of $1.08 and a one year high of $2.74. The firm has a market capitalization of $43.38 million, a PE ratio of 12.30 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.20.

U.S. Auto Parts Network (NASDAQ:PRTS) last announced its quarterly earnings results on Monday, October 29th. The specialty retailer reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $69.46 million during the quarter, compared to analyst estimates of $71.59 million. U.S. Auto Parts Network had a negative net margin of 1.16% and a positive return on equity of 2.10%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bard Associates Inc. bought a new stake in U.S. Auto Parts Network during the second quarter valued at approximately $225,000. B. Riley Financial Inc. bought a new stake in U.S. Auto Parts Network during the second quarter valued at approximately $273,000. Finally, North Star Investment Management Corp. grew its position in U.S. Auto Parts Network by 3.2% during the second quarter. North Star Investment Management Corp. now owns 1,522,335 shares of the specialty retailer’s stock valued at $2,284,000 after buying an additional 47,900 shares during the period. Institutional investors own 44.27% of the company’s stock.

U.S. Auto Parts Network Company Profile

U.S. Auto Parts Network, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories primarily in the United States and the Philippines. It offers collision parts, such as parts for the exterior of an automobile; mirror products; engine parts comprising engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories to individual consumers through its network of e-commerce Websites and online marketplaces.

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