Advance Auto Parts (NYSE:AAP) PT Lowered to $140.00
Advance Auto Parts (NYSE:AAP) had its price target decreased by Wells Fargo & Co from $165.00 to $140.00 in a research note published on Tuesday, AnalystRatings.com reports. Wells Fargo & Co currently has an equal weight rating on the stock.
A number of other brokerages have also weighed in on AAP. Wedbush decreased their price objective on Advance Auto Parts to in a report on Monday, January 13th. JPMorgan Chase & Co. lowered Advance Auto Parts from an overweight rating to a neutral rating and decreased their price objective for the company from $168.00 to $163.00 in a report on Monday, January 13th. Atlantic Securities lowered Advance Auto Parts from an overweight rating to a neutral rating and set a $159.00 price objective on the stock. in a report on Thursday, January 23rd. Finally, Nomura restated a hold rating and issued a $160.00 price objective (down previously from $162.00) on shares of Advance Auto Parts in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Advance Auto Parts has a consensus rating of Hold and an average price target of $164.33.
AAP stock traded down $1.08 during midday trading on Tuesday, reaching $133.59. The stock had a trading volume of 1,122,334 shares, compared to its average volume of 1,025,513. The company’s fifty day simple moving average is $146.02 and its 200 day simple moving average is $152.38. The company has a current ratio of 1.31, a quick ratio of 0.32 and a debt-to-equity ratio of 0.79. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 1.34 and a beta of 0.88. Advance Auto Parts has a 52-week low of $129.94 and a 52-week high of $182.56.
Several institutional investors and hedge funds have recently modified their holdings of AAP. FMR LLC increased its position in shares of Advance Auto Parts by 287.6% during the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock worth $23,708,000 after purchasing an additional 103,160 shares during the last quarter. BlackRock Inc. increased its position in shares of Advance Auto Parts by 7.2% during the 2nd quarter. BlackRock Inc. now owns 5,326,148 shares of the company’s stock worth $820,972,000 after purchasing an additional 358,324 shares during the last quarter. Atria Investments LLC acquired a new stake in shares of Advance Auto Parts during the 2nd quarter worth about $229,000. Cerebellum GP LLC acquired a new stake in shares of Advance Auto Parts during the 3rd quarter worth about $81,000. Finally, Crossmark Global Holdings Inc. increased its position in shares of Advance Auto Parts by 2.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,202 shares of the company’s stock worth $1,026,000 after purchasing an additional 125 shares during the last quarter.
About Advance Auto Parts
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.
Further Reading: S&P/TSX Index
Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.