Advance Auto Parts, Inc. (NYSE:AAP) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Advance Auto Parts, Inc. (NYSE:AAP) have been given a consensus rating of “Reduce” by the twenty-two ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $52.7205.

Several equities analysts have recently commented on AAP shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Advance Auto Parts in a research report on Wednesday, January 21st. Evercore set a $60.00 price target on shares of Advance Auto Parts in a research report on Wednesday, February 11th. Citigroup lifted their price target on shares of Advance Auto Parts from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday. Roth Mkm restated a “neutral” rating and issued a $57.00 price objective on shares of Advance Auto Parts in a report on Thursday, February 19th. Finally, BMO Capital Markets upped their price objective on shares of Advance Auto Parts from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 17th.

Advance Auto Parts Stock Down 5.1%

Shares of NYSE:AAP opened at $47.17 on Monday. The firm has a market capitalization of $2.85 billion, a PE ratio of 64.62, a price-to-earnings-growth ratio of 0.87 and a beta of 1.06. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 1.75. Advance Auto Parts has a 52-week low of $31.28 and a 52-week high of $70.00. The firm has a fifty day moving average of $53.72 and a 200 day moving average of $50.41.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Friday, February 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.45. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the business posted ($10.16) earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts anticipate that Advance Auto Parts will post 2.76 EPS for the current fiscal year.

Institutional Trading of Advance Auto Parts

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in shares of Advance Auto Parts by 107.2% in the 1st quarter. Royal Bank of Canada now owns 79,558 shares of the company’s stock valued at $3,119,000 after acquiring an additional 41,157 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Advance Auto Parts by 327.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock worth $14,230,000 after acquiring an additional 278,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Advance Auto Parts by 14.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company’s stock worth $7,096,000 after purchasing an additional 23,018 shares during the period. Hsbc Holdings PLC increased its stake in Advance Auto Parts by 3.1% in the 2nd quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock worth $293,000 after purchasing an additional 191 shares during the period. Finally, Baird Financial Group Inc. lifted its position in Advance Auto Parts by 2.7% in the second quarter. Baird Financial Group Inc. now owns 56,782 shares of the company’s stock valued at $2,640,000 after purchasing an additional 1,515 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.