Advance Auto Parts (NYSE:AAP) Stock Price Up 7.3% – What’s Next?

Advance Auto Parts, Inc. (NYSE:AAP) shares rose 7.3% on Monday . The company traded as high as $50.54 and last traded at $50.6330. Approximately 1,528,313 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 1,735,552 shares. The stock had previously closed at $47.17.

Wall Street Analyst Weigh In

Several analysts recently commented on AAP shares. JPMorgan Chase & Co. decreased their price target on shares of Advance Auto Parts from $64.00 to $59.00 and set a “neutral” rating for the company in a report on Friday. Morgan Stanley set a $60.00 price objective on shares of Advance Auto Parts in a research note on Tuesday, February 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, January 21st. Roth Mkm restated a “neutral” rating and set a $57.00 price target on shares of Advance Auto Parts in a report on Thursday, February 19th. Finally, DA Davidson set a $58.00 price target on shares of Advance Auto Parts in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $52.72.

Advance Auto Parts Stock Performance

The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 1.55. The stock has a market cap of $3.05 billion, a P/E ratio of 69.29, a price-to-earnings-growth ratio of 0.83 and a beta of 1.06. The firm’s 50-day moving average is $53.72 and its two-hundred day moving average is $50.37.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Advance Auto Parts by 18.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,474,546 shares of the company’s stock worth $293,751,000 after purchasing an additional 1,190,094 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Advance Auto Parts by 8.2% during the first quarter. Pzena Investment Management LLC now owns 4,301,089 shares of the company’s stock valued at $226,882,000 after purchasing an additional 327,596 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Advance Auto Parts by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 2,811,675 shares of the company’s stock valued at $110,499,000 after purchasing an additional 117,648 shares during the period. State Street Corp lifted its stake in shares of Advance Auto Parts by 3.9% in the fourth quarter. State Street Corp now owns 2,499,981 shares of the company’s stock worth $98,249,000 after buying an additional 92,861 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Advance Auto Parts by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,127,948 shares of the company’s stock worth $112,243,000 after buying an additional 282,591 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.