Advance Auto Parts Inc (AAP) Receives Buy Rating from UBS AG
Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “buy” rating reissued by UBS AG in a research report issued on Wednesday, The Fly reports. They presently have a $118.00 price objective on the stock, down from their previous price objective of $155.00. UBS AG’s price target indicates a potential upside of 35.51% from the company’s current price.
Several other equities research analysts also recently commented on AAP. Citigroup Inc. lowered their target price on shares of Advance Auto Parts to $99.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank Of Canada lowered their target price on shares of Advance Auto Parts from $125.00 to $102.00 and set a “sector perform” rating for the company in a research note on Wednesday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research note on Tuesday. BTIG Research reaffirmed a “sell” rating and issued a $90.00 target price (down previously from $109.00) on shares of Advance Auto Parts in a research note on Thursday, July 13th. Finally, BidaskClub downgraded shares of Advance Auto Parts from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Advance Auto Parts currently has an average rating of “Hold” and a consensus price target of $140.61.
Advance Auto Parts (AAP) opened at 87.08 on Wednesday. Advance Auto Parts has a 1-year low of $82.21 and a 1-year high of $177.83. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 15.78 and a beta of 0.87. The company has a 50-day moving average of $107.28 and a 200-day moving average of $136.42. Advance Auto Parts also was the recipient of some unusual options trading activity on Monday. Stock investors bought 13,082 call options on the stock. This is an increase of approximately 943% compared to the average daily volume of 1,254 call options.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts predict that Advance Auto Parts will post $6.33 earnings per share for the current year.
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In other Advance Auto Parts news, Director Jeffrey C. Smith bought 350,000 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average price of $134.29 per share, for a total transaction of $47,001,500.00. Following the completion of the acquisition, the director now owns 1,273 shares of the company’s stock, valued at approximately $170,951.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. bought 1,895 shares of Advance Auto Parts stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average price of $132.18 per share, with a total value of $250,481.10. Following the acquisition, the director now directly owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The disclosure for this purchase can be found here. Insiders have purchased 369,462 shares of company stock valued at $49,617,073 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Veritable L.P. boosted its position in shares of Advance Auto Parts by 0.3% in the second quarter. Veritable L.P. now owns 2,008 shares of the company’s stock valued at $234,000 after buying an additional 6 shares during the last quarter. Cleararc Capital Inc. boosted its stake in shares of Advance Auto Parts by 0.4% in the first quarter. Cleararc Capital Inc. now owns 1,802 shares of the company’s stock worth $267,000 after buying an additional 7 shares in the last quarter. QS Investors LLC boosted its stake in shares of Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after buying an additional 9 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Advance Auto Parts by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock worth $640,000 after buying an additional 14 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after buying an additional 24 shares in the last quarter.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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