Barrington Thinks US Auto Parts Network’s Stock is Going to Recover
In a report released today, Gary Prestopino from Barrington maintained a Buy rating on US Auto Parts Network (PRTS), with a price target of $5. The company’s shares closed yesterday at $1.05, close to its 52-week low of $0.88.
“We believe that PRTS will be investing in 2019 in improving its catalog, parts data and inventory offering through upgrading marketing capabilities and technology infrastructure to improve the user experience. The longer-term goal is to improve its e-Commerce marketplace and drive growth within this marketplace to improve margins and profitability for shareholders.”
According to TipRanks.com, Prestopino is a 1-star analyst with an average return of -0.8% and a 41.2% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Payment Data Systems Inc, and Liquidity Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for US Auto Parts Network with a $5 average price target.
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Based on US Auto Parts Network’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $438K. In comparison, last year the company had a GAAP net loss of $4.08 million.
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U.S. Auto Parts Network, Inc. engages in the provision of automotive aftermarket parts and repair information through its online platforms. The firm’s flagship websites include www.autopartswarehouse.com, www.carparts.com, www.jcwhitney.com, www.automd.com, and www.usautoparts.net.