Advance Auto Parts (NYSE:AAP – Get Rating) had its price target dropped by equities researchers at Stephens from $246.00 to $215.00 in a research note issued to investors on Wednesday, The Fly reports. Stephens’ price target suggests a potential upside of 19.29% from the company’s previous close.
AAP has been the subject of a number of other reports. Royal Bank of Canada lowered their target price on shares of Advance Auto Parts from $247.00 to $217.00 in a report on Wednesday. Citigroup decreased their target price on shares of Advance Auto Parts from $294.00 to $250.00 in a research note on Friday, May 13th. JPMorgan Chase & Co. increased their target price on shares of Advance Auto Parts from $276.00 to $280.00 in a report on Friday, February 11th. Evercore ISI initiated coverage on shares of Advance Auto Parts in a research report on Tuesday, February 15th. They issued a “buy” rating and a $275.00 target price for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $242.72.
Shares of NYSE AAP opened at $180.23 on Wednesday. Advance Auto Parts has a 12-month low of $172.86 and a 12-month high of $244.55. The stock has a market cap of $11.01 billion, a PE ratio of 18.91, a P/E/G ratio of 1.12 and a beta of 1.22. The company has a current ratio of 1.21, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $210.25 and a 200 day moving average of $221.09.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the business posted $3.34 earnings per share. Advance Auto Parts’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Advance Auto Parts will post 13.75 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Advance Auto Parts in the fourth quarter valued at approximately $148,460,000. River Road Asset Management LLC lifted its holdings in Advance Auto Parts by 62.0% during the first quarter. River Road Asset Management LLC now owns 1,055,464 shares of the company’s stock worth $218,439,000 after acquiring an additional 404,138 shares during the period. JPMorgan Chase & Co. lifted its holdings in Advance Auto Parts by 14.3% during the first quarter. JPMorgan Chase & Co. now owns 2,153,331 shares of the company’s stock worth $445,652,000 after acquiring an additional 269,514 shares during the period. Vanguard Group Inc. lifted its holdings in Advance Auto Parts by 3.9% during the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after acquiring an additional 261,715 shares during the period. Finally, Ardevora Asset Management LLP bought a new stake in Advance Auto Parts during the first quarter worth $54,161,000. 98.99% of the stock is owned by hedge funds and other institutional investors.
About Advance Auto Parts (Get Rating)
Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.
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