U.S. Auto Parts Network (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 report sent to investors on Thursday morning, 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. “

A number of other research analysts have also issued reports on PRTS. ValuEngine upgraded shares of U.S. Auto Parts Network from a sell rating to a hold rating in a report on Wednesday, January 2nd. Barrington Research 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 Tuesday, March 5th.

PRTS stock opened at $1.03 on Thursday. The stock has a market capitalization of $36.50 million, a PE ratio of -7.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 0.19. U.S. Auto Parts Network has a 12 month low of $0.88 and a 12 month high of $2.19.

U.S. Auto Parts Network (NASDAQ:PRTS) last issued its quarterly earnings data on Thursday, March 7th. The specialty retailer reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). The business had revenue of $64.65 million during the quarter, compared to the consensus estimate of $61.67 million. U.S. Auto Parts Network had a negative net margin of 1.31% and a negative return on equity of 9.20%. As a group, analysts anticipate that U.S. Auto Parts Network will post -0.14 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of PRTS. Vanguard Group Inc raised its holdings in U.S. Auto Parts Network by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 885,653 shares of the specialty retailer’s stock valued at $1,373,000 after buying an additional 20,136 shares during the last quarter. North Star Investment Management Corp. raised its holdings in U.S. Auto Parts Network by 3.1% in the 4th quarter. North Star Investment Management Corp. now owns 1,786,685 shares of the specialty retailer’s stock valued at $1,626,000 after buying an additional 53,350 shares during the last quarter. S. Muoio & CO. LLC bought a new position in U.S. Auto Parts Network in the 4th quarter valued at approximately $46,000. B. Riley Financial Inc. bought a new position in U.S. Auto Parts Network in the 4th quarter valued at approximately $168,000. Finally, 22NW LP bought a new position in U.S. Auto Parts Network in the 4th quarter valued at approximately $395,000. Institutional investors and hedge funds own 29.54% of the company’s stock.

About U.S. Auto Parts Network

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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