Advance Auto Parts (NYSE:AAP) had its price target dropped by investment analysts at Morgan Stanley from $185.00 to $180.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 34.01% from the company’s previous close.
Other analysts also recently issued reports about the company. Atlantic Securities downgraded Advance Auto Parts from an “overweight” rating to a “neutral” rating and set a $159.00 price target for the company. in a research note on Thursday, January 23rd. Wedbush reduced their price target on Advance Auto Parts to in a research note on Monday, January 13th. Wells Fargo & Co reduced their price target on Advance Auto Parts from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. cut Advance Auto Parts from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $168.00 to $163.00 in a report on Monday, January 13th. Finally, Nomura reaffirmed a “hold” rating and issued a $160.00 price objective (down from $162.00) on shares of Advance Auto Parts in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. Advance Auto Parts currently has a consensus rating of “Hold” and a consensus target price of $164.33.
AAP opened at $134.32 on Thursday. The business has a fifty day simple moving average of $146.54 and a 200 day simple moving average of $152.47. The company has a market capitalization of $9.05 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.34 and a beta of 0.88. Advance Auto Parts has a 1 year low of $129.94 and a 1 year high of $182.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.31 and a quick ratio of 0.32.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings results on Tuesday, November 12th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.05. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.30 billion. Advance Auto Parts had a return on equity of 15.61% and a net margin of 4.58%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. Equities analysts anticipate that Advance Auto Parts will post 7.93 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its holdings in Advance Auto Parts by 0.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,951 shares of the company’s stock valued at $1,273,000 after acquiring an additional 71 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Advance Auto Parts by 4.9% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,570 shares of the company’s stock worth $251,000 after buying an additional 74 shares in the last quarter. Argent Capital Management LLC raised its holdings in shares of Advance Auto Parts by 1.4% during the 4th quarter. Argent Capital Management LLC now owns 6,287 shares of the company’s stock worth $1,007,000 after buying an additional 85 shares in the last quarter. Capital Analysts LLC raised its holdings in shares of Advance Auto Parts by 0.5% during the 4th quarter. Capital Analysts LLC now owns 17,409 shares of the company’s stock worth $2,788,000 after buying an additional 85 shares in the last quarter. Finally, Citizens Financial Group Inc RI raised its holdings in shares of Advance Auto Parts by 38.9% during the 3rd quarter. Citizens Financial Group Inc RI now owns 307 shares of the company’s stock worth $51,000 after buying an additional 86 shares in the last quarter.
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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