Advance Auto Parts’ (AAP) Neutral Rating Reaffirmed at DA Davidson

Advance Auto Parts (NYSE:AAP)‘s stock had its “neutral” rating restated by investment analysts at DA Davidson in a note issued to investors on Thursday, Benzinga reports. They currently have a $48.00 price objective on the stock. DA Davidson‘s target price suggests a potential upside of 4.60% from the company’s current price.

A number of other analysts also recently issued reports on AAP. Bank of America initiated coverage on shares of Advance Auto Parts in a report on Monday, October 26th. They issued an “underperform” rating and a $42.00 price objective on the stock. Mizuho reduced their target price on shares of Advance Auto Parts from $58.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, November 6th. Guggenheim restated a “neutral” rating on shares of Advance Auto Parts in a report on Friday, August 21st. UBS Group decreased their target price on shares of Advance Auto Parts from $65.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 21st. Finally, Roth Capital set a $48.00 price target on shares of Advance Auto Parts in a research note on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $47.50.

Advance Auto Parts Stock Up 0.4%

Advance Auto Parts stock traded up $0.20 during midday trading on Thursday, reaching $45.89. The stock had a trading volume of 211,771 shares, compared to its average volume of 1,858,262. The firm’s fifty day simple moving average is $43.49 and its 200-day simple moving average is $51.72. Advance Auto Parts has a 1-year low of $37.89 and a 1-year high of $65.20. The stock has a market capitalization of $2.77 billion, a P/E ratio of 28.08, a price-to-earnings-growth ratio of 0.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.80 and a current ratio of 1.63.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, November 5th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Advance Auto Parts had a return on equity of 9.41% and a net margin of 1.16%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, analysts expect that Advance Auto Parts will post 2.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Advance Auto Parts

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP bought a new position in Advance Auto Parts during the second quarter worth about $25,000. State of Wyoming bought a new stake in Advance Auto Parts in the second quarter valued at approximately $34,000. Pinnacle Wealth Planning Services Inc. raised its stake in Advance Auto Parts by 27.4% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,701 shares of the company’s stock valued at $66,000 after buying an additional 366 shares during the period. PNC Financial Services Group Inc. raised its stake in Advance Auto Parts by 9.9% in the first 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 during the period. Finally, Nykredit A S acquired a new stake in shares of Advance Auto Parts in the second quarter valued at approximately $155,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

About Advance Auto Parts

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.