Advance Auto Parts (NYSE:AAP) Given New $49.00 Price Target at Royal Bank Of Canada

Advance Auto Parts (NYSE:AAP) had its price target lowered by equities research analysts at Royal Bank Of Canada from $52.00 to $49.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price target points to a potential upside of 7.06% from the company’s current price.

Several other equities analysts have also issued reports on the company. Weiss Ratings lowered Advance Auto Parts from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 9th. Morgan Stanley dropped their price target on Advance Auto Parts from $65.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. The Goldman Sachs Group set a $49.00 target price on Advance Auto Parts in a research report on Friday, August 21st. Truist Financial set a $43.00 price target on Advance Auto Parts and gave the stock a “hold” rating in a research note on Thursday, August 20th. Finally, Evercore set a $45.00 price target on shares of Advance Auto Parts in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Advance Auto Parts has an average rating of “Hold” and an average price target of $48.75.

Advance Auto Parts Price Performance

Shares of NYSE AAP traded down $0.92 during trading on Friday, reaching $45.77. The company had a trading volume of 62,586 shares, compared to its average volume of 1,855,685. The stock has a market cap of $2.76 billion, a PE ratio of 33.56, a PEG ratio of 0.72 and a beta of 1.07. The business’s 50 day moving average price is $43.61 and its 200-day moving average price is $52.09. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.85 and a current ratio of 1.75. Advance Auto Parts has a 52 week low of $37.89 and a 52 week high of $65.20.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 20th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. Advance Auto Parts had a return on equity of 9.84% and a net margin of 0.97%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The company’s revenue was down .5% on a year-over-year basis. Advance Auto Parts has set its FY 2026 guidance at 2.600-3.300 EPS. Analysts expect that Advance Auto Parts will post 2.97 earnings per share for the current year.

Institutional Trading of Advance Auto Parts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Studio Investment Management LLC lifted its stake in Advance Auto Parts by 37.0% in the third quarter. Studio Investment Management LLC now owns 6,272 shares of the company’s stock worth $244,000 after acquiring an additional 1,693 shares during the period. Net Worth Advisory Group raised its holdings in Advance Auto Parts by 25.8% in the 3rd quarter. Net Worth Advisory Group now owns 6,243 shares of the company’s stock valued at $242,000 after acquiring an additional 1,280 shares during the last quarter. Fearless Solutions LLC dba Best Invest lifted its position in Advance Auto Parts by 18.9% during the third quarter. Fearless Solutions LLC dba Best Invest now owns 10,425 shares of the company’s stock worth $406,000 after buying an additional 1,660 shares in the last quarter. Roberts Wealth Advisors LLC boosted its stake in Advance Auto Parts by 13.0% during the third quarter. Roberts Wealth Advisors LLC now owns 72,075 shares of the company’s stock worth $2,804,000 after buying an additional 8,297 shares during the last quarter. Finally, Parrish Capital LLC increased its stake in shares of Advance Auto Parts by 21.6% in the 3rd quarter. Parrish Capital LLC now owns 23,995 shares of the company’s stock worth $934,000 after acquiring an additional 4,263 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc is a specialty retailer and distributor of automotive aftermarket parts, accessories, and maintenance products. The company serves both do-it-yourself customers and professional repair shops, offering products such as replacement parts, batteries, engine and drivetrain components, filters, fluids, tools, and other automotive supplies.

The company operates through a network of stores, distribution centers, and online channels under the Advance Auto Parts and Carquest brands.