Citigroup reaffirmed their hold rating on shares of Advance Auto Parts (NYSE:AAP) in a research report sent to investors on Wednesday, AnalystRatings.com reports. The brokerage currently has a $156.00 price objective on the stock, down from their previous price objective of $182.00.
AAP has been the topic of several other research reports. Zacks Investment Research upgraded shares of Advance Auto Parts from a hold rating to a buy rating and set a $161.00 price target on the stock in a research report on Wednesday, July 31st. Guggenheim downgraded shares of Advance Auto Parts from a buy rating to a neutral rating in a research report on Wednesday. William Blair reiterated an outperform rating on shares of Advance Auto Parts in a research report on Wednesday, May 22nd. Evercore ISI reiterated a buy rating on shares of Advance Auto Parts in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reduced their price target on shares of Advance Auto Parts to $178.00 and set an outperform rating on the stock in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $183.38.
Shares of NYSE AAP opened at $136.59 on Wednesday. The firm’s 50-day simple moving average is $152.35 and its 200 day simple moving average is $159.88. The company has a market cap of $9.82 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.49 and a beta of 0.87. The company has a quick ratio of 0.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. Advance Auto Parts has a 12-month low of $130.09 and a 12-month high of $186.15.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.22). The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.36 billion. Advance Auto Parts had a return on equity of 15.16% and a net margin of 4.52%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $1.97 EPS. On average, equities analysts expect that Advance Auto Parts will post 7.98 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. AJO LP lifted its position in Advance Auto Parts by 2.5% during the 1st quarter. AJO LP now owns 18,687 shares of the company’s stock valued at $3,187,000 after purchasing an additional 448 shares during the period. Selway Asset Management increased its stake in shares of Advance Auto Parts by 2.0% in the 1st quarter. Selway Asset Management now owns 24,150 shares of the company’s stock valued at $4,118,000 after acquiring an additional 475 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Advance Auto Parts by 25.0% in the 1st quarter. Eagle Asset Management Inc. now owns 20,735 shares of the company’s stock valued at $3,535,000 after acquiring an additional 4,145 shares during the last quarter. Manning & Napier Group LLC bought a new stake in shares of Advance Auto Parts in the 2nd quarter valued at about $27,472,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Advance Auto Parts by 0.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 212,221 shares of the company’s stock valued at $36,190,000 after acquiring an additional 1,426 shares during the last quarter. Institutional investors 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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