Advance Auto Parts (NYSE:AAP) PT Lowered to $217.00 at Royal Bank of Canada

Advance Auto Parts (NYSE:AAPGet Rating) had its target price lowered by investment analysts at Royal Bank of Canada from $247.00 to $217.00 in a research note issued to investors on Wednesday, The Fly reports. Royal Bank of Canada’s price target suggests a potential upside of 20.40% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley cut their target price on shares of Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Tuesday. Citigroup decreased their target price on Advance Auto Parts from $294.00 to $250.00 in a report on Friday, May 13th. Wedbush reduced their target price on shares of Advance Auto Parts from $270.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday. Evercore ISI assumed coverage on Advance Auto Parts in a research report on Tuesday, February 15th. They issued a “buy” rating and a $275.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on shares of Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $247.19.

Advance Auto Parts stock opened at $180.23 on Wednesday. The business has a 50 day simple moving average of $210.25 and a 200 day simple moving average of $221.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.21 and a quick ratio of 0.31. The company has a market capitalization of $11.01 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.12 and a beta of 1.22. Advance Auto Parts has a one year low of $172.86 and a one year high of $244.55.

Advance Auto Parts (NYSE:AAPGet Rating) last issued its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share (EPS) 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 company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business posted $3.34 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Advance Auto Parts will post 13.75 earnings per share for the current fiscal year.

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