Advance Auto Parts (NYSE:AAP) Stock Gets Price Target Bump from JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on Advance Auto Parts from $55 to $57, maintaining a neutral rating; the new target implies 24.81% upside from the prior close.
• Analyst sentiment remains broadly cautious: MarketBeat reports a consensus “Hold” rating from 3 Buy, 15 Hold, and 3 Sell recommendations, with an average target of $47.39.
• Advance Auto Parts reported quarterly EPS of $0.79, slightly above estimates, while revenue of $2.01 billion fell short of forecasts and declined 1.2% year over year.

Advance Auto Parts (NYSE:AAP - Get Free Report) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $55.00 to $57.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 24.81% from the stock's previous close.

Several other research firms have also commented on AAP. Weiss Ratings raised shares of Advance Auto Parts from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, October 27th. TD Cowen lowered their price objective on Advance Auto Parts from $61.00 to $45.00 and set a "hold" rating for the company in a research report on Thursday, August 20th. BMO Capital Markets reiterated a "market perform" rating on shares of Advance Auto Parts in a research report on Friday, August 21st. Mizuho set a $50.00 target price on Advance Auto Parts in a research note on Friday. Finally, Royal Bank Of Canada raised their target price on Advance Auto Parts from $49.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $47.39.

Advance Auto Parts Trading Up 0.4%

Shares of AAP opened at $45.67 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34. Advance Auto Parts has a 12-month low of $37.89 and a 12-month high of $65.20. The firm has a 50-day moving average price of $43.30 and a 200 day moving average price of $51.73. The firm has a market capitalization of $2.76 billion, a P/E ratio of 27.85, a P/E/G ratio of 0.87 and a beta of 1.02.

Advance Auto Parts (NYSE:AAP - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. Advance Auto Parts had a net margin of 1.16% and a return on equity of 9.41%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. Advance Auto Parts's quarterly revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Advance Auto Parts will post 2.94 EPS for the current year.

Institutional Investors Weigh In On Advance Auto Parts

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Advance Auto Parts by 9.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,224 shares of the company's stock valued at $117,000 after buying an additional 200 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Advance Auto Parts by 4.7% in the 2nd quarter. Hsbc Holdings PLC now owns 7,879 shares of the company's stock valued at $490,000 after buying an additional 355 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in Advance Auto Parts by 27.4% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,701 shares of the company's stock worth $66,000 after acquiring an additional 366 shares in the last quarter. Allworth Financial LP acquired a new stake in Advance Auto Parts during the 2nd quarter worth $25,000. Finally, Bfsg LLC raised its stake in Advance Auto Parts by 12.8% during the 3rd quarter. Bfsg LLC now owns 4,584 shares of the company's stock worth $178,000 after acquiring an additional 520 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc is a retailer of automotive aftermarket parts, accessories and maintenance products. Its offerings include replacement parts, batteries, tools, fluids and other supplies for a range of vehicles.

The company serves both do-it-yourself customers and professional automotive repair shops through its stores, online channels and network of independent locations. Its retail banners include Advance Auto Parts and Carquest.

Advance Auto Parts traces its roots to 1932, when the business began in Roanoke, Virginia.

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