Advance Auto Parts (NYSE:AAP) Stock Rating Upgraded by StockNews.com

Advance Auto Parts (NYSE:AAPGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Several other research firms also recently weighed in on AAP. Truist Financial reduced their target price on Advance Auto Parts from $238.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, August 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $219.00 target price on shares of Advance Auto Parts in a research report on Thursday, August 25th. Wedbush reduced their target price on Advance Auto Parts from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 24th. Royal Bank of Canada reduced their target price on Advance Auto Parts from $217.00 to $199.00 in a research report on Thursday, August 25th. Finally, UBS Group reduced their target price on Advance Auto Parts from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 24th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.00.

Advance Auto Parts Stock Up 0.1 %

Shares of NYSE:AAP opened at $183.94 on Monday. The company has a quick ratio of 0.25, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. Advance Auto Parts has a 52-week low of $154.46 and a 52-week high of $244.55. The stock’s fifty day simple moving average is $173.49 and its 200-day simple moving average is $182.99. The company has a market capitalization of $11.06 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.14 and a beta of 1.27.

Advance Auto Parts (NYSE:AAPGet Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The company reported $3.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.74. Advance Auto Parts had a return on equity of 25.99% and a net margin of 4.84%. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the business earned $3.40 earnings per share. As a group, equities research analysts forecast that Advance Auto Parts will post 12.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Advance Auto Parts

A number of large investors have recently modified their holdings of AAP. Covestor Ltd grew its stake in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after buying an additional 83 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Advance Auto Parts during the 1st quarter valued at approximately $35,000. Ellevest Inc. grew its stake in Advance Auto Parts by 161.0% during the 2nd quarter. Ellevest Inc. now owns 201 shares of the company’s stock valued at $35,000 after purchasing an additional 124 shares in the last quarter. First Personal Financial Services grew its stake in Advance Auto Parts by 113.3% during the 3rd quarter. First Personal Financial Services now owns 224 shares of the company’s stock valued at $35,000 after purchasing an additional 119 shares in the last quarter. Finally, Private Trust Co. NA acquired a new stake in Advance Auto Parts during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 99.47% of the company’s stock.

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.

Further Reading

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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