Jul. 25 at 2:46 PM
$PRTS kind of reminds me of Vitacost.com in 2014 when activists were pushing for a sale. Started strat alts review in Feb and was sold in July to
$KR for
$280 million cash. It was about 2.5-2.75x gross profit multiple I believe, but gross profits were steadily increasing with revenues unlike PRTS.
I was surprised to see PRTS did
$196 million gross profit dollars in 2024 vs
$230 million in 2023.
Maybe this can catch a 1.5x multiple on 2025 expected gross profit dollars.
Call it
$170M GP$ * 1.5x or
$250M price, about
$5/share.