Advance Auto Parts (NYSE:AAP – Get Rating) had its price target reduced by Truist Financial from $276.00 to $238.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Truist Financial’s price target suggests a potential upside of 32.05% from the company’s current price.
Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating in a report on Friday, May 20th. Evercore ISI began coverage on shares of Advance Auto Parts in a report on Tuesday, February 15th. They set a “buy” rating and a $275.00 price target on the stock. Morgan Stanley cut their price target on shares of Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Tuesday. Citigroup dropped their target price on shares of Advance Auto Parts from $294.00 to $250.00 in a research note on Friday, May 13th. Finally, Stephens dropped their target price on shares of Advance Auto Parts from $246.00 to $215.00 in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $242.72.
Advance Auto Parts stock opened at $180.23 on Wednesday. The company’s 50-day moving average price is $210.25 and its 200-day moving average price is $221.09. Advance Auto Parts has a twelve month low of $172.86 and a twelve month high of $244.55. The company has a quick ratio of 0.31, a current ratio of 1.21 and a debt-to-equity ratio of 0.33. The company has a market cap of $11.01 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.12 and a beta of 1.22.
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its earnings results on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.34 earnings per share. As a group, sell-side analysts expect that Advance Auto Parts will post 13.75 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of AAP. Central Bank & Trust Co. purchased a new stake in Advance Auto Parts during the first quarter valued at approximately $29,000. Life Planning Partners Inc purchased a new position in shares of Advance Auto Parts in the fourth quarter worth $30,000. Covestor Ltd raised its holdings in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after buying an additional 83 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Advance Auto Parts in the first quarter worth $35,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Advance Auto Parts in the first quarter worth $41,000. 98.99% of the stock is owned by institutional investors.
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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