Advance Auto Parts (NYSE:AAP) PT Lowered to $259.00 at Guggenheim

Advance Auto Parts (NYSE:AAP – Get Rating) had its price objective reduced by Guggenheim from $266.00 to $259.00 in a report issued on Wednesday, The Fly reports. Guggenheim currently has a buy rating on the stock.

AAP has been the topic of several other reports. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $247.00 to $217.00 in a research note on Wednesday. Truist Financial dropped their price objective on Advance Auto Parts from $276.00 to $238.00 and set a buy rating on the stock in a research note on Wednesday. StockNews.com upgraded Advance Auto Parts from a hold rating to a buy rating in a research note on Friday, May 20th. Evercore ISI assumed coverage on Advance Auto Parts in a research note on Tuesday, February 15th. They set a buy rating and a $275.00 target price on the stock. Finally, Wedbush lowered their target price on Advance Auto Parts from $270.00 to $215.00 and set an outperform rating on the stock in a research note on Tuesday, May 24th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $243.11.

NYSE AAP opened at $193.05 on Wednesday. The company has a fifty day simple moving average of $209.22 and a 200 day simple moving average of $220.21. Advance Auto Parts has a 12-month low of $172.86 and a 12-month high of $244.55. The company has a current ratio of 1.21, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33. The company has a market cap of $11.79 billion, a P/E ratio of 20.26, a PEG ratio of 1.12 and a beta of 1.22.

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the business posted $3.34 earnings per share. Advance Auto Parts’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Advance Auto Parts will post 13.75 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Advance Auto Parts by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 525,040 shares of the company’s stock valued at $109,676,000 after buying an additional 4,942 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Advance Auto Parts by 7.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,055 shares of the company’s stock valued at $2,309,000 after buying an additional 800 shares in the last quarter. OPSEU Pension Plan Trust Fund grew its holdings in Advance Auto Parts by 23.2% during the 4th quarter. OPSEU Pension Plan Trust Fund now owns 5,253 shares of the company’s stock valued at $1,254,000 after buying an additional 990 shares in the last quarter. Donald L. Hagan LLC purchased a new position in Advance Auto Parts during the 4th quarter valued at about $802,000. Finally, CWM LLC purchased a new position in Advance Auto Parts during the 4th quarter valued at about $3,736,000. 98.99% of the stock is owned by institutional investors and hedge funds.

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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