U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) from a strong sell rating to a hold rating in a report issued on Wednesday.

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 brokerages have also weighed in on PRTS. Roth Capital set a $5.00 price objective on shares of U.S. Auto Parts Network and gave the company a buy rating in a report on Monday, May 22nd. ValuEngine lowered shares of U.S. Auto Parts Network from a hold rating to a sell rating in a report on Friday, June 2nd.

Shares of U.S. Auto Parts Network (PRTS) traded down 0.812% during trading on Wednesday, hitting $3.055. 34,248 shares of the company traded hands. U.S. Auto Parts Network has a 52 week low of $2.40 and a 52 week high of $4.35. The company has a 50 day moving average price of $3.22 and a 200 day moving average price of $3.38. The company’s market capitalization is $105.43 million.

U.S. Auto Parts Network (NASDAQ:PRTS) last announced its quarterly earnings data on Wednesday, May 10th. The specialty retailer reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.01. U.S. Auto Parts Network had a negative net margin of 0.09% and a positive return on equity of 6.07%. The company had revenue of $80.80 million for the quarter, compared to the consensus estimate of $82.34 million. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts expect that U.S. Auto Parts Network will post $0.09 earnings per share for the current year.

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U.S. Auto Parts Network announced that its board has approved a stock repurchase plan on Wednesday, May 17th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the specialty retailer to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several large investors have recently bought and sold shares of the stock. Thomson Horstmann & Bryant Inc. raised its stake in U.S. Auto Parts Network by 389.7% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 865,690 shares of the specialty retailer’s stock valued at $2,900,000 after buying an additional 688,920 shares in the last quarter. TFS Capital LLC raised its stake in U.S. Auto Parts Network by 169.9% in the first quarter. TFS Capital LLC now owns 48,172 shares of the specialty retailer’s stock valued at $161,000 after buying an additional 30,324 shares in the last quarter. Acadian Asset Management LLC raised its stake in U.S. Auto Parts Network by 2.6% in the first quarter. Acadian Asset Management LLC now owns 481,967 shares of the specialty retailer’s stock valued at $1,616,000 after buying an additional 12,231 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in U.S. Auto Parts Network by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 585,805 shares of the specialty retailer’s stock valued at $2,062,000 after buying an additional 13,658 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in U.S. Auto Parts Network by 5.3% in the first quarter. Blair William & Co. IL now owns 127,313 shares of the specialty retailer’s stock valued at $426,000 after buying an additional 6,413 shares in the last quarter. Institutional investors and hedge funds own 63.45% of the company’s stock.

About U.S. Auto Parts Network

U.S. Auto Parts Network, Inc is an online provider of automotive aftermarket parts and repair information. The Company is an online provider of aftermarket auto parts, including collision parts, engine parts, and performance parts and accessories. The Company operates through two segments: Base USAP, which is an auto parts business, and AutoMD, an online automotive repair source.

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