U.S. Auto Parts Network (PRTS) Stock Rating Upgraded by Zacks Investment Research

U.S. Auto Parts Network (NASDAQ:PRTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $1.50 price objective on the specialty retailer’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.38% from the stock’s current price.

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. “

A number of other research analysts also recently issued reports on the company. Barrington Research set a $5.00 price target on U.S. Auto Parts Network and gave the company a “buy” rating in a report on Monday. ValuEngine downgraded U.S. Auto Parts Network from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd.

Shares of NASDAQ:PRTS opened at $1.30 on Wednesday. The firm has a market cap of $49.68 million, a PE ratio of 13.00 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.25 and a current ratio of 1.29. U.S. Auto Parts Network has a 1 year low of $1.08 and a 1 year high of $2.74.

U.S. Auto Parts Network (NASDAQ:PRTS) last announced its quarterly earnings results on Monday, October 29th. The specialty retailer reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $69.46 million for the quarter, compared to the consensus estimate of $71.59 million. U.S. Auto Parts Network had a positive return on equity of 2.11% and a negative net margin of 1.16%. On average, research analysts predict that U.S. Auto Parts Network will post -0.02 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. North Star Investment Management Corp. increased 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 acquiring an additional 47,900 shares during the last quarter. Bard Associates Inc. purchased a new stake in U.S. Auto Parts Network during the second quarter valued at $225,000. Finally, B. Riley Financial Inc. purchased a new stake in U.S. Auto Parts Network during the second quarter valued at $273,000. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

About U.S. Auto Parts Network

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.

See Also: Preferred Stock

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