U.S. Auto Parts Network (PRTS) Rating Increased to Hold at ValuEngine

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ValuEngine upgraded shares of U.S. Auto Parts Network (NASDAQ:PRTS) from a sell rating to a hold rating in a report released on Wednesday, January 2nd.

Several other equities analysts also recently weighed in on PRTS. Zacks Investment Research upgraded shares of U.S. Auto Parts Network from a hold rating to a buy rating and set a $1.50 price target on the stock in a report on Wednesday, October 31st. Barrington Research reaffirmed a buy rating on shares of U.S. Auto Parts Network in a research note on Friday, November 30th.

NASDAQ PRTS opened at $1.01 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $37.44 million, a PE ratio of 10.10 and a beta of 1.17. U.S. Auto Parts Network has a 12 month low of $0.88 and a 12 month high of $2.58.

U.S. Auto Parts Network (NASDAQ:PRTS) last released its quarterly earnings data on Monday, October 29th. The specialty retailer reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The company 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%.

In other news, major shareholder David Kanen sold 42,658 shares of the stock in a transaction that occurred on Monday, December 24th. The stock was sold at an average price of $0.69, for a total transaction of $29,434.02. Following the transaction, the insider now owns 173,514 shares in the company, valued at approximately $119,724.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barry Phelps bought 35,000 shares of the firm’s stock in a transaction dated Friday, November 30th. The shares were acquired at an average price of $1.24 per share, for a total transaction of $43,400.00. Following the transaction, the director now directly owns 102,486 shares in the company, valued at $127,082.64. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,240,144 shares of company stock worth $2,663,725 and have sold 458,751 shares worth $451,043. Company insiders own 24.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PRTS. Bard Associates Inc. purchased a new position in shares of U.S. Auto Parts Network during the 2nd quarter worth $225,000. B. Riley Financial Inc. acquired a new stake in shares of U.S. Auto Parts Network during the 2nd quarter worth about $273,000. Vanguard Group Inc increased its position in shares of U.S. Auto Parts Network by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 885,653 shares of the specialty retailer’s stock worth $1,373,000 after purchasing an additional 20,136 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of U.S. Auto Parts Network by 3.1% during the 4th quarter. North Star Investment Management Corp. now owns 1,786,685 shares of the specialty retailer’s stock worth $1,626,000 after purchasing an additional 53,350 shares during the last quarter. Institutional investors own 35.69% 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.

Further Reading: Fundamental Analysis and Individual Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

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