U.S. Auto Parts Network (NASDAQ:PRTS) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of U.S. Auto Parts Network (NASDAQ:PRTS) from a hold rating to a buy rating in a report issued on Saturday morning, Zacks.com reports. The brokerage currently has $1.25 target price on the specialty retailer’s stock.

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. “

Other analysts have also issued reports about the company. ValuEngine lowered U.S. Auto Parts Network from a hold rating to a sell rating in a research note on Wednesday, May 8th. Barrington Research set a $5.00 price objective on U.S. Auto Parts Network and gave the company a buy rating in a research note on Friday, May 10th.

Shares of NASDAQ PRTS opened at $1.23 on Friday. U.S. Auto Parts Network has a one year low of $0.88 and a one year high of $1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.07 and a quick ratio of 0.17. The business’s fifty day moving average price is $1.20 and its 200-day moving average price is $1.09. The stock has a market capitalization of $44.06 million, a PE ratio of -8.79 and a beta of 1.41.

U.S. Auto Parts Network (NASDAQ:PRTS) last issued its quarterly earnings results on Thursday, August 8th. The specialty retailer reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). U.S. Auto Parts Network had a negative return on equity of 23.00% and a negative net margin of 3.21%. The firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $74.66 million. As a group, equities analysts expect that U.S. Auto Parts Network will post -0.21 EPS for the current fiscal year.

In related news, insider Sanjiv Gomes acquired 26,532 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average cost of $1.03 per share, for a total transaction of $27,327.96. Following the purchase, the insider now owns 63,604 shares in the company, valued at approximately $65,512.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Kanen acquired 247,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $0.97 per share, for a total transaction of $240,182.67. Following the completion of the purchase, the director now owns 173,514 shares in the company, valued at approximately $168,308.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 529,899 shares of company stock worth $525,347. 40.60% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in PRTS. North Star Investment Management Corp. raised its stake in shares of U.S. Auto Parts Network by 22.0% during the 2nd quarter. North Star Investment Management Corp. now owns 2,368,175 shares of the specialty retailer’s stock valued at $2,960,000 after purchasing an additional 427,439 shares during the period. Vanguard Group Inc. raised its stake in shares of U.S. Auto Parts Network by 95.1% during the 2nd quarter. Vanguard Group Inc. now owns 505,708 shares of the specialty retailer’s stock valued at $632,000 after purchasing an additional 246,480 shares during the period. Renaissance Technologies LLC raised its stake in shares of U.S. Auto Parts Network by 6.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,254,574 shares of the specialty retailer’s stock valued at $1,568,000 after purchasing an additional 76,905 shares during the period. Cutter & CO Brokerage Inc. bought a new position in U.S. Auto Parts Network in the 2nd quarter worth about $57,000. Finally, Mid Atlantic Financial Management Inc. ADV increased its stake in U.S. Auto Parts Network by 43.0% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 61,100 shares of the specialty retailer’s stock worth $76,000 after acquiring an additional 18,375 shares during the last quarter. Institutional investors own 26.30% 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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