Advance Auto Parts (NYSE:AAP – Get Rating) had its price target dropped by equities researchers at UBS Group to $250.00 in a research note issued on Wednesday, Stock Target Advisor reports. UBS Group’s price objective suggests a potential upside of 34.59% from the company’s current price.
AAP has been the subject of a number of other reports. Evercore ISI initiated coverage on shares of Advance Auto Parts in a report on Tuesday, February 15th. They issued a “buy” rating and a $275.00 target price for the company. Morgan Stanley lowered their target price on Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Advance Auto Parts from $276.00 to $280.00 in a research report on Friday, February 11th. Truist Financial cut their price target on shares of Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wedbush dropped their target price on Advance Auto Parts from $270.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts presently has a consensus rating of “Buy” and an average price target of $243.11.
NYSE AAP traded up $5.52 during mid-day trading on Wednesday, hitting $185.75. The stock had a trading volume of 41,706 shares, compared to its average volume of 867,212. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.12 and a beta of 1.22. Advance Auto Parts has a twelve month low of $172.86 and a twelve month high of $244.55. The firm’s 50 day moving average is $210.25 and its 200 day moving average is $221.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.21 and a quick ratio of 0.31.
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its earnings results on Monday, May 23rd. The company reported $3.57 EPS 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 company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company earned $3.34 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Advance Auto Parts will post 13.75 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of AAP. Vanguard Group Inc. boosted 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 purchasing an additional 261,715 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Advance Auto Parts by 1.4% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,813,940 shares of the company’s stock valued at $796,694,000 after purchasing an additional 53,469 shares during the last quarter. Clearbridge Investments LLC grew its stake in Advance Auto Parts by 3.6% in the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock valued at $685,801,000 after purchasing an additional 114,789 shares in the last quarter. State Street Corp increased its position in shares of Advance Auto Parts by 2.6% during the 4th quarter. State Street Corp now owns 2,929,142 shares of the company’s stock worth $705,541,000 after purchasing an additional 74,627 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Advance Auto Parts by 14.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,153,331 shares of the company’s stock worth $445,652,000 after purchasing an additional 269,514 shares in the last quarter. 98.99% of the stock is owned by 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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