Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “underperform” rating restated by Bank of America Corporation in a report issued on Tuesday, September 5th, Marketbeat.com reports. They currently have a $87.50 target price on the stock. Bank of America Corporation’s target price would indicate a potential downside of 12.07% from the company’s current price.
A number of other analysts also recently issued reports on AAP. UBS AG reaffirmed a “buy” rating and set a $180.00 price target (down from $200.00) on shares of Advance Auto Parts in a report on Wednesday, May 17th. Royal Bank Of Canada cut their target price on Advance Auto Parts from $168.00 to $153.00 and set an “outperform” rating on the stock in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Advance Auto Parts in a research report on Wednesday, May 24th. Deutsche Bank AG dropped their target price on Advance Auto Parts from $192.00 to $164.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Finally, Barclays PLC reissued a “sell” rating and set a $120.00 price target on shares of Advance Auto Parts in a research note on Friday, May 26th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $123.08.
Shares of Advance Auto Parts (NYSE AAP) opened at 99.51 on Tuesday. Advance Auto Parts has a 52 week low of $82.21 and a 52 week high of $177.83. The company’s 50 day moving average price is $100.43 and its 200-day moving average price is $126.42. The stock has a market capitalization of $7.35 billion, a PE ratio of 19.87 and a beta of 0.90.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.07). The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. Equities research analysts predict that Advance Auto Parts will post $5.17 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its holdings in shares of Advance Auto Parts by 3.2% during the 1st quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after purchasing an additional 24 shares during the period. Tobam acquired a new stake in shares of Advance Auto Parts during the 2nd quarter valued at about $118,000. QS Investors LLC boosted its position in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after buying an additional 9 shares in the last quarter. Huntington National Bank boosted its position in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in Advance Auto Parts by 14.3% in the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after buying an additional 139 shares in the last quarter.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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