Advance Auto Parts (NYSE:AAP) had its price target dropped by equities researchers at Morgan Stanley from $205.00 to $185.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 33.87% from the company’s current price.
A number of other analysts have also recently commented on AAP. Northcoast Research reissued a “neutral” rating on shares of Advance Auto Parts in a research report on Thursday, June 27th. Guggenheim cut Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Wednesday. ValuEngine cut Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Credit Suisse Group reissued an “outperform” rating and issued a $162.00 price target (down from $195.00) on shares of Advance Auto Parts in a research report on Wednesday. Finally, Royal Bank of Canada dropped their price target on Advance Auto Parts to $178.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Advance Auto Parts currently has an average rating of “Buy” and a consensus price target of $181.28.
Advance Auto Parts stock traded down $4.03 during trading hours on Wednesday, hitting $138.20. 483,517 shares of the stock traded hands, compared to its average volume of 1,201,515. The business’s 50-day moving average price is $153.32. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $10.35 billion, a P/E ratio of 19.38, a PEG ratio of 1.52 and a beta of 0.87. Advance Auto Parts has a one year low of $130.09 and a one year high of $186.15.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $2.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.22). The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.36 billion. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 earnings per share. On average, equities research analysts predict that Advance Auto Parts will post 8.19 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the business. Berman Capital Advisors LLC lifted its position in Advance Auto Parts by 172.8% during the second quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after purchasing an additional 140 shares during the period. Citizens Financial Group Inc RI lifted its position in Advance Auto Parts by 466.7% during the second quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock valued at $34,000 after purchasing an additional 182 shares during the period. Nelson Roberts Investment Advisors LLC acquired a new position in Advance Auto Parts during the first quarter valued at $40,000. Avestar Capital LLC lifted its position in Advance Auto Parts by 625.0% during the second quarter. Avestar Capital LLC now owns 406 shares of the company’s stock valued at $42,000 after purchasing an additional 350 shares during the period. Finally, Pinnacle Financial Partners Inc. acquired a new position in Advance Auto Parts during the first quarter valued at $43,000. Institutional investors and hedge funds own 99.11% of the company’s stock.
About Advance Auto Parts
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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