Mizuho Forecasts Strong Price Appreciation for Advance Auto Parts (NYSE:AAP) Stock

Advance Auto Parts (NYSE:AAP - Get Free Report) had its target price upped by equities researchers at Mizuho from $38.00 to $44.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Mizuho's target price points to a potential downside of 13.85% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Redburn Atlantic upgraded shares of Advance Auto Parts from a "sell" rating to a "neutral" rating and upped their target price for the stock from $28.00 to $45.00 in a research note on Tuesday, June 3rd. Wells Fargo & Company set a $35.00 price target on shares of Advance Auto Parts and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wall Street Zen lowered shares of Advance Auto Parts from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. Evercore ISI increased their price objective on shares of Advance Auto Parts from $50.00 to $52.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 24th. Finally, UBS Group reiterated a "neutral" rating and issued a $50.00 price objective (up previously from $36.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.53.

Advance Auto Parts Stock Up 4.2%

Shares of AAP stock traded up $2.07 during trading hours on Thursday, hitting $51.08. 1,895,757 shares of the company's stock traded hands, compared to its average volume of 2,577,349. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -8.70 and a beta of 1.04. The company has a quick ratio of 0.49, a current ratio of 1.27 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $43.59 and its two-hundred day simple moving average is $41.93. Advance Auto Parts has a 12-month low of $28.89 and a 12-month high of $64.92.

Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its earnings results on Thursday, May 22nd. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.81) by $0.59. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.51 billion. Advance Auto Parts had a negative net margin of 3.74% and a negative return on equity of 1.76%. The firm's revenue was down 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. On average, analysts expect that Advance Auto Parts will post -0.46 EPS for the current year.

Insider Transactions at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $48.52, for a total transaction of $45,996.96. Following the completion of the sale, the senior vice president directly owned 9,876 shares in the company, valued at $479,183.52. The trade was a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC raised its holdings in Advance Auto Parts by 21.1% in the first quarter. Voya Investment Management LLC now owns 12,213 shares of the company's stock valued at $479,000 after acquiring an additional 2,129 shares in the last quarter. First Hawaiian Bank raised its holdings in Advance Auto Parts by 29.6% in the first quarter. First Hawaiian Bank now owns 25,528 shares of the company's stock valued at $1,001,000 after acquiring an additional 5,836 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Advance Auto Parts by 14.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company's stock valued at $7,096,000 after acquiring an additional 23,018 shares in the last quarter. Empowered Funds LLC raised its holdings in Advance Auto Parts by 1.9% in the first quarter. Empowered Funds LLC now owns 192,880 shares of the company's stock valued at $7,563,000 after acquiring an additional 3,686 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Advance Auto Parts during the first quarter worth $1,068,000. 88.75% of the stock is owned by institutional investors and hedge funds.

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.