Royal Bank Of Canada Lowers Advance Auto Parts (NYSE:AAP) Price Target to $62.00

Advance Auto Parts (NYSE:AAP) had its price target dropped by stock analysts at Royal Bank Of Canada from $63.00 to $62.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 21.98% from the company’s previous close.

AAP has been the subject of several other research reports. Evercore set a $60.00 price objective on shares of Advance Auto Parts in a report on Wednesday, February 11th. Morgan Stanley set a $60.00 target price on Advance Auto Parts in a report on Tuesday, February 17th. Wells Fargo & Company increased their price target on Advance Auto Parts from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Roth Mkm reiterated a “neutral” rating and issued a $57.00 price objective on shares of Advance Auto Parts in a research report on Thursday, February 19th. Finally, DA Davidson set a $58.00 price objective on Advance Auto Parts in a research note on Tuesday, February 17th. One analyst has rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $52.88.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $50.83 on Tuesday. The firm has a market capitalization of $3.07 billion, a P/E ratio of 69.94, a P/E/G ratio of 0.98 and a beta of 1.06. The stock has a fifty day moving average price of $53.93 and a two-hundred day moving average price of $50.54. Advance Auto Parts has a 52-week low of $31.28 and a 52-week high of $70.00. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.75 and a quick ratio of 0.87.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Friday, February 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.45. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.95 billion. Advance Auto Parts had a net margin of 0.51% and a return on equity of 6.23%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($10.16) EPS. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.10 EPS. As a group, analysts anticipate that Advance Auto Parts will post 2.77 EPS for the current fiscal year.

Institutional Trading of Advance Auto Parts

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in Advance Auto Parts in the 3rd quarter valued at $31,000. AlphaCore Capital LLC raised its position in shares of Advance Auto Parts by 6,288.9% during the third quarter. AlphaCore Capital LLC now owns 575 shares of the company’s stock worth $35,000 after acquiring an additional 566 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Advance Auto Parts during the third quarter valued at $52,000. Westfuller Advisors LLC bought a new position in Advance Auto Parts in the third quarter valued at about $56,000. Finally, Hantz Financial Services Inc. increased its position in Advance Auto Parts by 184.5% in the fourth quarter. Hantz Financial Services Inc. now owns 919 shares of the company’s stock worth $36,000 after purchasing an additional 596 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Advance Auto Parts

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.