Analysts Set Advance Auto Parts, Inc. (NYSE:AAP) Price Target at $52.93

Advance Auto Parts, Inc. (NYSE:AAP) has received an average rating of “Reduce” from the twenty-two ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $52.7205.

A number of research firms recently commented on AAP. Evercore set a $60.00 target price on Advance Auto Parts in a research note on Wednesday, February 11th. Royal Bank Of Canada reduced their target price on Advance Auto Parts from $63.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 12th. Northcoast Research raised Advance Auto Parts from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reduced their target price on Advance Auto Parts from $64.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, TD Cowen reissued a “hold” rating on shares of Advance Auto Parts in a research note on Tuesday, February 17th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Advance Auto Parts by 107.2% during the first quarter. Royal Bank of Canada now owns 79,558 shares of the company’s stock valued at $3,119,000 after buying an additional 41,157 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Advance Auto Parts by 327.7% during the first quarter. Goldman Sachs Group Inc. now owns 362,918 shares of the company’s stock valued at $14,230,000 after buying an additional 278,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Advance Auto Parts by 14.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,979 shares of the company’s stock valued at $7,096,000 after buying an additional 23,018 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Advance Auto Parts by 3.1% during the second quarter. Hsbc Holdings PLC now owns 6,306 shares of the company’s stock valued at $293,000 after buying an additional 191 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Advance Auto Parts by 2.7% during the second quarter. Baird Financial Group Inc. now owns 56,782 shares of the company’s stock valued at $2,640,000 after buying an additional 1,515 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Advance Auto Parts Stock Up 0.0%

AAP opened at $47.17 on Monday. The stock has a market cap of $2.85 billion, a PE ratio of 64.62, a P/E/G ratio of 0.83 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 1.55. Advance Auto Parts has a 52 week low of $31.28 and a 52 week high of $70.00. The business’s fifty day simple moving average is $53.72 and its 200 day simple moving average is $50.37.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Friday, February 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.45. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Advance Auto Parts had a return on equity of 6.23% and a net margin of 0.51%.The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($10.16) earnings per share. As a group, research analysts expect that Advance Auto Parts will post 2.76 earnings per share for the current fiscal year.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.