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.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.30 billion. Advance Auto Parts had a return on equity of 15.61% and a net margin of 4.58%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. Sell-side analysts predict that Advance Auto Parts will post 7.93 EPS for the current year.

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.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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