US Auto Parts Network, Inc. (PRTS) Posts Earnings Results, Hits Estimates

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U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) released its quarterly earnings results on Thursday. The specialty retailer reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02, Morningstar.com reports. U.S. Auto Parts Network had a return on equity of 14.44% and a net margin of 1.01%. The company had revenue of $80.21 million during the quarter, compared to analysts’ expectations of $79.23 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year.

Shares of U.S. Auto Parts Network (NASDAQ:PRTS) opened at 2.65 on Friday. The stock’s market cap is $91.45 million. The stock has a 50 day moving average price of $2.94 and a 200-day moving average price 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 announced that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Several large investors have recently made changes to their positions in the stock. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of U.S. Auto Parts Network during the second quarter worth approximately $116,000. Globeflex Capital L P increased its stake in shares of U.S. Auto Parts Network by 17,850.9% in the first quarter. Globeflex Capital L P now owns 40,928 shares of the specialty retailer’s stock worth $137,000 after buying an additional 40,700 shares during the period. Northern Trust Corp increased its stake in shares of U.S. Auto Parts Network by 47.4% in the second quarter. Northern Trust Corp now owns 44,015 shares of the specialty retailer’s stock worth $142,000 after buying an additional 14,163 shares during the period. TFS Capital LLC increased its stake in shares of 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 worth $161,000 after buying an additional 30,324 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of U.S. Auto Parts Network during the second quarter worth approximately $233,000. Institutional investors own 69.01% of the company’s stock.

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A number of equities analysts have recently weighed in on PRTS shares. Roth Capital set a $5.00 price target on U.S. Auto Parts Network and gave the stock a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research raised U.S. Auto Parts Network from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, ValuEngine cut 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 Company Profile

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.

Earnings History for U.S. Auto Parts Network (NASDAQ:PRTS)

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