Morgan Stanley Cuts Advance Auto Parts (NYSE:AAP) Price Target to $225.00

Advance Auto Parts (NYSE:AAPGet Rating) had its price objective lowered by equities researchers at Morgan Stanley from $240.00 to $225.00 in a research report issued on Tuesday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 27.85% from the stock’s current price.

A number of other equities research analysts also recently commented on AAP. JPMorgan Chase & Co. boosted their target price on Advance Auto Parts from $276.00 to $280.00 in a research report on Friday, February 11th. Wedbush reduced their price target on Advance Auto Parts from $270.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company dropped their price objective on Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday. StockNews.com raised Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Citigroup cut their price target on shares of Advance Auto Parts from $294.00 to $250.00 in a report on Friday, May 13th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Advance Auto Parts has a consensus rating of “Buy” and a consensus price target of $248.56.

Shares of NYSE:AAP traded down $7.25 during mid-day trading on Tuesday, reaching $175.99. The stock had a trading volume of 25,967 shares, compared to its average volume of 854,214. 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 company has a market cap of $10.75 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.12 and a beta of 1.22. Advance Auto Parts has a 1 year low of $176.72 and a 1 year high of $244.55. The business’s 50 day moving average price is $210.80 and its 200 day moving average price is $221.38.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Central Bank & Trust Co. acquired a new position in Advance Auto Parts during the 1st quarter worth $29,000. Life Planning Partners Inc acquired a new position in Advance Auto Parts during the 4th quarter worth $30,000. Covestor Ltd boosted its holdings in shares of Advance Auto Parts by 113.7% in the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after buying an additional 83 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Advance Auto Parts in the first quarter worth approximately $35,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Advance Auto Parts in the first quarter worth $41,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

About Advance Auto Parts (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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