JPMorgan Chase & Co. set a $222.00 price target on Advance Auto Parts (NYSE:AAP) in a research report sent to investors on Monday, TipRanks reports. The brokerage currently has a buy rating on the stock.
Other analysts have also recently issued research reports about the stock. Northcoast Research reissued a neutral rating on shares of Advance Auto Parts in a research report on Thursday, June 27th. Evercore ISI reissued a buy rating on shares of Advance Auto Parts in a research report on Tuesday. UBS Group reduced their price target on shares of Advance Auto Parts from $205.00 to $170.00 and set a buy rating on the stock in a research report on Wednesday. Wedbush reissued an outperform rating and set a $200.00 price target on shares of Advance Auto Parts in a research report on Thursday, July 11th. Finally, Guggenheim cut shares of Advance Auto Parts from a buy rating to a neutral rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. Advance Auto Parts has a consensus rating of Buy and an average target price of $181.28.
NYSE AAP opened at $137.50 on Monday. The firm’s 50-day moving average is $152.66 and its two-hundred day moving average is $159.99. Advance Auto Parts has a 12 month low of $130.09 and a 12 month high of $186.15. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.31. The stock has a market capitalization of $10.19 billion, a P/E ratio of 19.28, a PEG ratio of 1.50 and a beta of 0.87.
Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 13th. The company reported $2.00 EPS for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company earned $1.97 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Advance Auto Parts will post 8.19 EPS for the current year.
Large investors have recently modified their holdings of the stock. Doyle Wealth Management acquired a new stake in Advance Auto Parts in the second quarter valued at approximately $31,000. Berman Capital Advisors LLC raised its holdings in Advance Auto Parts by 172.8% in the second quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $33,000 after acquiring an additional 140 shares in the last quarter. Citizens Financial Group Inc RI raised its holdings in Advance Auto Parts by 466.7% in the second quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock valued at $34,000 after acquiring an additional 182 shares in the last quarter. Nelson Roberts Investment Advisors LLC acquired a new stake in Advance Auto Parts in the first quarter valued at approximately $40,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in Advance Auto Parts in the first quarter valued at approximately $43,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.
About Advance Auto Parts
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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