UBS Group Reaffirms Buy Rating for Advance Auto Parts (AAP)

Advance Auto Parts (NYSE:AAP)‘s stock had its “buy” rating reiterated by analysts at UBS Group in a research note issued on Friday, thefly.com reports. They currently have a $160.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 15.23% from the company’s current price.

AAP has been the subject of several other research reports. Zacks Investment Research cut shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, April 24th. JPMorgan Chase & Co. upped their target price on shares of Advance Auto Parts from $140.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, June 15th. Guggenheim upgraded shares of Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Tuesday, April 17th. Credit Suisse Group upgraded shares of Advance Auto Parts to a “buy” rating and set a $122.00 target price for the company in a research report on Sunday, April 22nd. Finally, Robert W. Baird restated a “neutral” rating and issued a $125.00 target price (up previously from $100.00) on shares of Advance Auto Parts in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $120.33.

NYSE AAP opened at $138.85 on Friday. Advance Auto Parts has a 52 week low of $78.81 and a 52 week high of $143.42. The company has a quick ratio of 0.40, a current ratio of 1.61 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.88 and a beta of 1.09.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, May 22nd. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.97 by $0.13. Advance Auto Parts had a net margin of 5.39% and a return on equity of 13.09%. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. Advance Auto Parts’s quarterly revenue was down .6% on a year-over-year basis. equities analysts expect that Advance Auto Parts will post 6.78 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in Advance Auto Parts by 50.5% during the first quarter. Franklin Resources Inc. now owns 5,144,383 shares of the company’s stock valued at $609,873,000 after purchasing an additional 1,725,493 shares during the last quarter. BlackRock Inc. lifted its stake in Advance Auto Parts by 0.9% during the first quarter. BlackRock Inc. now owns 4,538,370 shares of the company’s stock valued at $538,024,000 after purchasing an additional 40,426 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Advance Auto Parts by 5.8% during the first quarter. Artisan Partners Limited Partnership now owns 3,685,527 shares of the company’s stock valued at $436,919,000 after purchasing an additional 202,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Advance Auto Parts by 459.6% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,858,459 shares of the company’s stock valued at $220,321,000 after purchasing an additional 1,526,368 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Advance Auto Parts by 0.6% during the first quarter. Neuberger Berman Group LLC now owns 1,551,429 shares of the company’s stock valued at $183,014,000 after purchasing an additional 9,866 shares during the last quarter.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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