Advance Auto Parts (NYSE:AAP) PT Lowered to $200.00

Advance Auto Parts (NYSE:AAP – Get Rating) had its price objective lowered by equities research analysts at Wells Fargo & Company from $230.00 to $200.00 in a note issued to investors on Tuesday, The Fly reports. Wells Fargo & Company‘s price objective points to a potential upside of 9.15% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Royal Bank of Canada initiated coverage on shares of Advance Auto Parts in a report on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 price objective on the stock. StockNews.com raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup decreased their price objective on Advance Auto Parts from $294.00 to $250.00 in a report on Friday, May 13th. Morgan Stanley raised their target price on Advance Auto Parts from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 16th. Finally, JPMorgan Chase & Co. boosted their price target on Advance Auto Parts from $276.00 to $280.00 in a report on Friday, February 11th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts currently has an average rating of “Buy” and a consensus target price of $252.94.

Shares of Advance Auto Parts stock opened at $183.24 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33. The firm’s 50 day simple moving average is $210.80 and its two-hundred day simple moving average is $221.38. Advance Auto Parts has a 12-month low of $176.72 and a 12-month high of $244.55. The firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.12 and a beta of 1.22.

Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company posted $3.34 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Advance Auto Parts will post 13.75 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Advance Auto Parts during the fourth quarter worth about $148,460,000. River Road Asset Management LLC lifted its holdings in Advance Auto Parts by 62.0% in the first quarter. River Road Asset Management LLC now owns 1,055,464 shares of the company’s stock valued at $218,439,000 after acquiring an additional 404,138 shares during the last quarter. JPMorgan Chase & Co. grew its position in Advance Auto Parts by 14.3% in the first quarter. JPMorgan Chase & Co. now owns 2,153,331 shares of the company’s stock worth $445,652,000 after acquiring an additional 269,514 shares during the period. Vanguard Group Inc. increased its stake in Advance Auto Parts by 3.9% during the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after acquiring an additional 261,715 shares during the last quarter. Finally, Ardevora Asset Management LLP purchased a new stake in Advance Auto Parts in the first quarter valued at $54,161,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Advance Auto Parts Company Profile (Get Rating)

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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