Auto Parts

Advance Auto Parts (NYSE:AAP) Price Target Cut to $230.00


Advance Auto Parts (NYSE:AAP – Get Rating) had its price target dropped by stock analysts at Wells Fargo & Company from $245.00 to $230.00 in a research note issued on Monday, The Fly reports. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.90% from the stock’s current price.

AAP has been the topic of a number of other research reports. Royal Bank of Canada started coverage on Advance Auto Parts in a research report on Thursday, January 27th. They set a “sector perform” rating and a $239.00 price target on the stock. Citigroup dropped their target price on shares of Advance Auto Parts from $294.00 to $250.00 in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Advance Auto Parts from $276.00 to $280.00 in a report on Friday, February 11th. StockNews.com downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Evercore ISI began coverage on shares of Advance Auto Parts in a research note on Tuesday, February 15th. They issued a “buy” rating and a $275.00 price objective for the company. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Advance Auto Parts has an average rating of “Buy” and a consensus target price of $254.81.

Shares of AAP stock opened at $211.21 on Monday. The company has a market capitalization of $12.90 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.21 and a beta of 1.22. The company’s 50-day simple moving average is $211.42 and its two-hundred day simple moving average is $222.66. Advance Auto Parts has a one year low of $187.16 and a one year high of $244.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.21 and a quick ratio of 0.31.

Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings results on Monday, February 14th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.10. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.37 billion. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. Advance Auto Parts’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.87 earnings per share. On average, research analysts expect that Advance Auto Parts will post 13.74 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in AAP. Norges Bank acquired a new position in Advance Auto Parts during the 4th quarter valued at approximately $148,460,000. Bristol Gate Capital Partners Inc. acquired a new position in shares of Advance Auto Parts in the 3rd quarter valued at $86,624,000. River Road Asset Management LLC increased its position in shares of Advance Auto Parts by 62.0% in the 1st quarter. River Road Asset Management LLC now owns 1,055,464 shares of the company’s stock valued at $218,439,000 after acquiring an additional 404,138 shares during the period. JPMorgan Chase & Co. lifted its position in Advance Auto Parts by 14.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,153,331 shares of the company’s stock worth $445,652,000 after acquiring an additional 269,514 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Advance Auto Parts by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock valued at $1,442,611,000 after purchasing an additional 261,715 shares during the period. Institutional investors own 98.99% of the company’s stock.

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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