MKM Partners began coverage on shares of Advance Auto Parts (NYSE:AAP – Get Rating) in a research note issued on Thursday, The Fly reports. The firm set a “buy” rating on the stock.
AAP has been the subject of a number of other research reports. StockNews.com cut Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Stephens decreased their price target on Advance Auto Parts from $246.00 to $215.00 and set an “equal weight” rating for the company in a report on Wednesday, May 25th. Truist Financial decreased their price target on Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. UBS Group cut their target price on Advance Auto Parts to $250.00 in a research report on Wednesday, May 25th. Finally, Guggenheim cut their target price on Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.94.
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Shares of NYSE AAP opened at $174.66 on Thursday. The firm has a market capitalization of $10.59 billion, a P/E ratio of 19.45, a PEG ratio of 0.99 and a beta of 1.23. Advance Auto Parts has a one year low of $164.00 and a one year high of $244.55. The company’s fifty day moving average is $196.99 and its two-hundred day moving average is $213.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.25 and a current ratio of 1.20.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings results on Monday, May 23rd. The company reported $3.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.02). Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm earned $3.34 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Advance Auto Parts will post 13.68 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Advance Auto Parts by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after buying an additional 261,715 shares during the period. Clearbridge Investments LLC increased its position in Advance Auto Parts by 3.6% in the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock worth $685,801,000 after buying an additional 114,789 shares during the period. State Street Corp grew its stake in shares of Advance Auto Parts by 2.6% in the fourth quarter. State Street Corp now owns 2,929,142 shares of the company’s stock worth $705,541,000 after purchasing an additional 74,627 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Advance Auto Parts by 14.3% in the first quarter. JPMorgan Chase & Co. now owns 2,153,331 shares of the company’s stock worth $445,652,000 after purchasing an additional 269,514 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Advance Auto Parts by 16.1% in the first quarter. American Century Companies Inc. now owns 1,676,374 shares of the company’s stock worth $346,943,000 after purchasing an additional 232,904 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.
Advance Auto Parts Company Profile (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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