U.S. Auto Parts Network (PRTS) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of U.S. Auto Parts Network (NASDAQ:PRTS) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $1.50 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. “

PRTS has been the topic of a number of other reports. Barrington Research began coverage on U.S. Auto Parts Network in a research report on Thursday, September 13th. They issued an outperform rating and a $5.00 price target on the stock. ValuEngine cut U.S. Auto Parts Network from a buy rating to a hold rating in a research report on Tuesday, October 2nd.

Shares of PRTS traded up $0.06 during mid-day trading on Wednesday, reaching $1.25. The company had a trading volume of 4,727 shares, compared to its average volume of 157,661. The company has a quick ratio of 0.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. U.S. Auto Parts Network has a 52 week low of $1.08 and a 52 week high of $2.74. The stock has a market cap of $45.48 million, a P/E ratio of 12.14 and a beta of 1.02.

U.S. Auto Parts Network (NASDAQ:PRTS) last issued 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. U.S. Auto Parts Network had a positive return on equity of 2.11% and a negative net margin of 1.16%. The firm had revenue of $69.46 million for the quarter, compared to analysts’ expectations of $71.59 million. On average, equities analysts anticipate that U.S. Auto Parts Network will post -0.02 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of PRTS. Bard Associates Inc. bought a new stake in shares of U.S. Auto Parts Network in the 2nd quarter worth approximately $225,000. B. Riley Financial Inc. purchased a new position in U.S. Auto Parts Network in the 2nd quarter worth approximately $273,000. Finally, North Star Investment Management Corp. raised its holdings in U.S. Auto Parts Network by 3.2% in the 2nd quarter. North Star Investment Management Corp. now owns 1,522,335 shares of the specialty retailer’s stock worth $2,284,000 after acquiring an additional 47,900 shares during the last quarter. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

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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