Barrington Maintains Outperform and PT Range on U.S. Auto Parts

Barrington Research reiterates its Outperform rating on U.S. Auto Parts Network PRTS despite results that missed estimates for revenue and adjusted EBITDA. Price target range remains at $11-13 per share. According to Barrington, “Reported revenue, which included results from JC Whitney, totaled $78.6 million with adjusted EBITDA excluding a $900,000 loss from JC Whitney, of $4 million. Our estimates for the quarter included revenue of $82.7 million with adjusted EBITDA of $4.6 million. Revenue results were less than consensus expectations of $84 million though adjusted EBITDA of $4 million exceeded consensus expectations of $3.09 million. The company does not give quarterly or annual guidance." ROVI closed at $46.02, up o.35 percent on Tuesday.