U.S. Auto Parts Network (NASDAQ:PRTS) Stock Rating Lowered by Zacks Investment Research

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U.S. Auto Parts Network (NASDAQ:PRTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

NASDAQ PRTS remained flat at $$1.60 during trading on Wednesday. 210 shares of the company’s stock were exchanged, compared to its average volume of 71,116. The company has a quick ratio of 0.17, a current ratio of 1.07 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $58.21 million, a PE ratio of -11.29 and a beta of 1.34. The stock has a fifty day simple moving average of $1.55 and a 200-day simple moving average of $1.22. U.S. Auto Parts Network has a 1 year low of $0.88 and a 1 year high of $1.80.

U.S. Auto Parts Network (NASDAQ:PRTS) last posted its earnings results on Thursday, August 8th. The specialty retailer reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $73.69 million during the quarter, compared to analysts’ expectations of $74.66 million. U.S. Auto Parts Network had a negative net margin of 3.21% and a negative return on equity of 23.48%. On average, sell-side analysts expect that U.S. Auto Parts Network will post -0.21 earnings per share for the current year.

In other news, Director David Kanen acquired 265,000 shares of U.S. Auto Parts Network stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $1.67 per share, for a total transaction of $442,550.00. Following the completion of the purchase, the director now owns 173,514 shares of the company’s stock, valued at $289,768.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sol Khazani acquired 200,000 shares of U.S. Auto Parts Network stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $1.19 per share, with a total value of $238,000.00. Following the completion of the purchase, the director now directly owns 173,514 shares of the company’s stock, valued at approximately $206,481.66. The disclosure for this purchase can be found here. Insiders acquired 977,257 shares of company stock valued at $1,374,490 over the last quarter. Corporate insiders own 40.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. North Star Investment Management Corp. lifted its stake in shares of U.S. Auto Parts Network by 4.5% in the third quarter. North Star Investment Management Corp. now owns 2,474,875 shares of the specialty retailer’s stock worth $3,836,000 after buying an additional 106,700 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of U.S. Auto Parts Network by 95.1% in the second quarter. Vanguard Group Inc. now owns 505,708 shares of the specialty retailer’s stock worth $632,000 after buying an additional 246,480 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of U.S. Auto Parts Network by 6.5% in the second quarter. Renaissance Technologies LLC now owns 1,254,574 shares of the specialty retailer’s stock worth $1,568,000 after buying an additional 76,905 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV lifted its stake in shares of U.S. Auto Parts Network by 43.0% in the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 61,100 shares of the specialty retailer’s stock worth $76,000 after buying an additional 18,375 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. bought a new position in U.S. Auto Parts Network during the second quarter worth $57,000. Institutional investors and hedge funds own 26.49% 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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