U.S. Auto Parts Network (NASDAQ:PRTS) Issues Earnings Results, Misses Expectations By $0.05 EPS

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U.S. Auto Parts Network (NASDAQ:PRTS) announced its quarterly earnings results on Thursday, May 9th. The specialty retailer reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.05), Morningstar.com reports. U.S. Auto Parts Network had a negative net margin of 2.84% and a negative return on equity of 20.27%. The company had revenue of $74.74 million during the quarter, compared to the consensus estimate of $77.60 million.

Shares of PRTS traded up $0.01 during midday trading on Friday, hitting $0.98. The company’s stock had a trading volume of 176,291 shares, compared to its average volume of 75,122. U.S. Auto Parts Network has a one year low of $0.88 and a one year high of $1.81. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.19 and a current ratio of 1.09. The firm has a market cap of $34.81 million, a price-to-earnings ratio of -7.00 and a beta of 1.45.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of U.S. Auto Parts Network from a “sell” rating to a “hold” rating in a research note on Tuesday. Barrington Research set a $5.00 price target on U.S. Auto Parts Network and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, ValuEngine cut U.S. Auto Parts Network from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th.

In other news, CEO Lev Peker acquired 89,869 shares of U.S. Auto Parts Network stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $1.00 per share, for a total transaction of $89,869.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Meniane bought 100,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $1.03 per share, for a total transaction of $103,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 100,000 shares in the company, valued at approximately $103,000. The disclosure for this purchase can be found here. In the last quarter, insiders bought 209,869 shares of company stock worth $213,469. Corporate insiders own 40.60% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc lifted its holdings in U.S. Auto Parts Network by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 885,653 shares of the specialty retailer’s stock worth $1,373,000 after buying an additional 20,136 shares during the period. S. Muoio & CO. LLC acquired a new position in U.S. Auto Parts Network during the 4th quarter worth about $46,000. B. Riley Financial Inc. acquired a new position in U.S. Auto Parts Network during the 4th quarter worth about $168,000. 22NW LP acquired a new position in U.S. Auto Parts Network during the 4th quarter worth about $395,000. Finally, North Star Investment Management Corp. lifted its holdings in U.S. Auto Parts Network by 8.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,940,736 shares of the specialty retailer’s stock worth $1,960,000 after buying an additional 154,051 shares during the period. 28.57% of the stock is currently owned by institutional investors.

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

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