Advance Auto Parts (NYSE:AAP) had its target price lowered by Morgan Stanley from $205.00 to $185.00 in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the stock.
A number of other equities analysts have also recently weighed in on AAP. ValuEngine cut Advance Auto Parts from a buy rating to a hold rating in a report on Tuesday, June 11th. Evercore ISI restated a buy rating on shares of Advance Auto Parts in a report on Tuesday. Zacks Investment Research upgraded Advance Auto Parts from a hold rating to a buy rating and set a $161.00 price target for the company in a report on Wednesday, July 31st. Northcoast Research restated a neutral rating on shares of Advance Auto Parts in a report on Thursday, June 27th. Finally, Credit Suisse Group decreased their price target on Advance Auto Parts from $195.00 to $162.00 and set an outperform rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $181.28.
AAP traded down $0.85 on Wednesday, reaching $135.64. 51,459 shares of the company’s stock were exchanged, compared to its average volume of 1,179,133. The company’s 50 day simple moving average is $152.93. The company has a market capitalization of $10.19 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 1.50 and a beta of 0.87. Advance Auto Parts has a twelve month low of $130.09 and a twelve month high of $186.15. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.79.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). The business 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 15.23% and a net margin of 4.45%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.97 EPS. As a group, equities research analysts forecast that Advance Auto Parts will post 8.19 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Berman Capital Advisors LLC boosted its stake in shares of Advance Auto Parts by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after buying an additional 140 shares during the last quarter. Citizens Financial Group Inc RI boosted its stake in shares of Advance Auto Parts by 466.7% during the 2nd quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock valued at $34,000 after buying an additional 182 shares during the last quarter. Nelson Roberts Investment Advisors LLC purchased a new position in shares of Advance Auto Parts during the 1st quarter valued at approximately $40,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Advance Auto Parts during the 1st quarter valued at approximately $43,000. Finally, CSat Investment Advisory L.P. boosted its stake in shares of Advance Auto Parts by 66.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 292 shares of the company’s stock valued at $45,000 after buying an additional 117 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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