US Auto Parts Network, Inc. (NASDAQ:PRTS) Downgraded by Zacks Investment Research

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

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. “

PRTS has been the topic of a number of other research reports. Roth Capital set a $5.00 price objective on shares of U.S. Auto Parts Network and gave the stock a “buy” rating in a report on Tuesday, June 27th. ValuEngine downgraded shares of U.S. Auto Parts Network from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.

U.S. Auto Parts Network (NASDAQ PRTS) opened at 2.65 on Friday. The firm’s market cap is $91.45 million. The firm has a 50 day moving average of $2.94 and a 200-day moving average of $3.25. U.S. Auto Parts Network has a 12 month low of $2.40 and a 12 month high of $4.35.

U.S. Auto Parts Network (NASDAQ:PRTS) last released its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $80.21 million for the quarter, compared to the consensus estimate of $79.23 million. U.S. Auto Parts Network had a negative net margin of 0.09% and a positive return on equity of 6.07%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities research analysts forecast that U.S. Auto Parts Network will post $0.09 earnings per share for the current year.

U.S. Auto Parts Network declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 17th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the specialty retailer to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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A number of institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC boosted its position in shares of U.S. Auto Parts Network by 10.5% in the second quarter. William Blair Investment Management LLC now owns 2,367,745 shares of the specialty retailer’s stock worth $7,648,000 after buying an additional 224,109 shares during the last quarter. Thomson Horstmann & Bryant Inc. boosted its position in shares of U.S. Auto Parts Network by 45.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 1,257,035 shares of the specialty retailer’s stock worth $4,060,000 after buying an additional 391,345 shares during the last quarter. Uniplan Investment Counsel Inc. acquired a new position in shares of U.S. Auto Parts Network during the second quarter worth about $2,870,000. Russell Investments Group Ltd. boosted its position in shares of U.S. Auto Parts Network by 4,726.0% in the second quarter. Russell Investments Group Ltd. now owns 842,331 shares of the specialty retailer’s stock worth $2,720,000 after buying an additional 824,877 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of U.S. Auto Parts Network by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 724,630 shares of the specialty retailer’s stock worth $2,341,000 after buying an additional 131,388 shares during the last quarter. Institutional investors own 69.01% 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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