Advance Auto Parts (NYSE:AAP - Get Free Report) had its price objective hoisted by investment analysts at Evercore ISI from $45.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's price objective indicates a potential upside of 3.43% from the stock's current price.
A number of other research analysts also recently weighed in on AAP. Roth Capital set a $50.00 price target on Advance Auto Parts and gave the company a "neutral" rating in a report on Wednesday, May 28th. UBS Group reissued a "neutral" rating and set a $50.00 target price (up previously from $36.00) on shares of Advance Auto Parts in a research note on Friday, May 23rd. Citigroup cut their price objective on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group reissued a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of Advance Auto Parts in a report on Thursday, May 22nd. Finally, Wells Fargo & Company set a $35.00 price target on Advance Auto Parts and gave the company an "equal weight" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $46.25.
Check Out Our Latest Stock Report on Advance Auto Parts
Advance Auto Parts Stock Performance
Shares of AAP stock traded down $0.12 during trading hours on Tuesday, reaching $48.34. The stock had a trading volume of 630,945 shares, compared to its average volume of 2,471,872. The firm has a 50-day simple moving average of $39.07 and a 200-day simple moving average of $41.49. Advance Auto Parts has a twelve month low of $28.89 and a twelve month high of $67.03. The firm has a market capitalization of $2.90 billion, a PE ratio of 66.28, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.62.
Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.59. The company had revenue of $2.58 billion during the quarter, compared to analysts' expectations of $2.51 billion. Advance Auto Parts had a return on equity of 1.82% and a net margin of 0.41%. The company's revenue for the quarter was down 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. As a group, equities analysts forecast that Advance Auto Parts will post -0.46 earnings per share for the current year.
Hedge Funds Weigh In On Advance Auto Parts
A number of large investors have recently bought and sold shares of AAP. Hexagon Capital Partners LLC increased its holdings in Advance Auto Parts by 189.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 711 shares of the company's stock worth $28,000 after purchasing an additional 465 shares during the period. Allworth Financial LP raised its holdings in shares of Advance Auto Parts by 1,543.4% in the fourth quarter. Allworth Financial LP now owns 871 shares of the company's stock valued at $40,000 after acquiring an additional 818 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Advance Auto Parts in the fourth quarter worth about $42,000. Advisory Services Network LLC bought a new position in Advance Auto Parts during the 4th quarter worth about $46,000. Finally, Financial Management Professionals Inc. purchased a new position in Advance Auto Parts during the 1st quarter valued at about $49,000. Hedge funds and other institutional investors own 88.75% of the company's stock.
Advance Auto Parts Company Profile
(
Get Free Report)
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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