Advance Auto Parts, Inc. (NYSE:AAP) Receives Average Rating of “Hold” from Analysts

Advance Auto Parts, Inc. (NYSE:AAP) has received an average rating of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $54.08.

A number of brokerages have commented on AAP. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price target on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Royal Bank of Canada cut their price objective on shares of Advance Auto Parts from $52.00 to $46.00 and set a “sector perform” rating for the company in a report on Monday. Roth Mkm reaffirmed a “neutral” rating and set a $40.00 target price on shares of Advance Auto Parts in a report on Wednesday, October 16th. Finally, Evercore ISI cut their price target on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating for the company in a research note on Tuesday, October 22nd.

Advance Auto Parts Price Performance

NYSE:AAP opened at $40.96 on Thursday. The company has a market cap of $2.44 billion, a P/E ratio of 4,096.00, a P/E/G ratio of 1.30 and a beta of 1.17. The firm’s fifty day moving average price is $39.05 and its two-hundred day moving average price is $54.72. Advance Auto Parts has a one year low of $35.59 and a one year high of $88.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.22). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $1.43 EPS. Equities analysts expect that Advance Auto Parts will post 2.19 earnings per share for the current year.

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in Advance Auto Parts in the first quarter valued at about $34,000. Mather Group LLC. lifted its holdings in shares of Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after acquiring an additional 596 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Advance Auto Parts in the 2nd quarter valued at approximately $41,000. Blue Trust Inc. grew its holdings in shares of Advance Auto Parts by 56.7% during the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock valued at $47,000 after purchasing an additional 436 shares during the last quarter. Finally, AM Squared Ltd acquired a new position in Advance Auto Parts during the 2nd quarter worth approximately $63,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Company Profile

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.