U.S. Auto Parts Network (NASDAQ:PRTS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of U.S. Auto Parts Network (NASDAQ:PRTS) from a hold rating to a sell rating in a research note issued to investors on Saturday, 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. “

Separately, Barrington Research reissued a buy rating and issued a $5.00 target price on shares of U.S. Auto Parts Network in a research report on Monday, November 4th.

Shares of PRTS stock traded up $0.05 during trading hours on Friday, hitting $2.23. 397,300 shares of the company’s stock were exchanged, compared to its average volume of 106,666. U.S. Auto Parts Network has a 12-month low of $0.88 and a 12-month high of $2.34. The company has a market capitalization of $61.49 million, a PE ratio of -15.93 and a beta of 1.37. The company has a current ratio of 1.06, a quick ratio of 0.17 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $1.60 and its 200-day simple moving average is $1.29.

U.S. Auto Parts Network (NASDAQ:PRTS) last announced its earnings results on Thursday, August 8th. The specialty retailer reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $73.69 million for the quarter, compared to analysts’ expectations of $74.66 million. U.S. Auto Parts Network had a negative net margin of 3.88% and a negative return on equity of 29.60%. Equities analysts anticipate that U.S. Auto Parts Network will post -0.22 EPS for the current year.

In other U.S. Auto Parts Network news, Director David Kanen purchased 139,120 shares of U.S. Auto Parts Network stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $1.44 per share, with a total value of $200,332.80. Following the transaction, the director now directly owns 173,514 shares of the company’s stock, valued at $249,860.16. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sol Khazani purchased 200,000 shares of U.S. Auto Parts Network stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average cost of $1.19 per share, with a total value of $238,000.00. Following the transaction, the director now directly owns 173,514 shares in the company, valued at $206,481.66. The disclosure for this purchase can be found here. In the last three months, insiders acquired 981,107 shares of company stock valued at $1,381,497. 40.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mid Atlantic Financial Management Inc. ADV increased its position in shares of U.S. Auto Parts Network by 43.0% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 61,100 shares of the specialty retailer’s stock valued at $76,000 after purchasing an additional 18,375 shares during the last quarter. Cutter & CO Brokerage Inc. purchased a new stake in U.S. Auto Parts Network in the 2nd quarter worth approximately $57,000. Renaissance Technologies LLC increased its holdings in U.S. Auto Parts Network by 6.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,254,574 shares of the specialty retailer’s stock worth $1,568,000 after acquiring an additional 76,905 shares in the last quarter. North Star Investment Management Corp. increased its holdings in U.S. Auto Parts Network by 4.5% in the 3rd quarter. North Star Investment Management Corp. now owns 2,474,875 shares of the specialty retailer’s stock worth $3,836,000 after acquiring an additional 106,700 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in U.S. Auto Parts Network by 95.1% in the 2nd quarter. Vanguard Group Inc. now owns 505,708 shares of the specialty retailer’s stock worth $632,000 after acquiring an additional 246,480 shares in the last quarter. 26.49% of the stock is 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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