Advance Auto Parts (NYSE:AAP) Rating Lowered to Neutral at Guggenheim

Advance Auto Parts (NYSE:AAPGet Rating) was downgraded by stock analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports.

A number of other equities analysts also recently commented on AAP. Raymond James decreased their price target on Advance Auto Parts from $220.00 to $210.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 20th. Citigroup downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $216.00 to $161.00 in a research note on Thursday. Truist Financial downgraded Advance Auto Parts from a “buy” rating to a “hold” rating and decreased their price target for the stock from $228.00 to $147.00 in a research note on Wednesday. StockNews.com upgraded Advance Auto Parts from a “hold” rating to a “buy” rating in a research note on Monday, November 14th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $219.00 price target on shares of Advance Auto Parts in a research note on Thursday, August 25th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.07.

Advance Auto Parts Stock Down 0.5 %

Shares of Advance Auto Parts stock opened at $147.50 on Thursday. The business has a 50-day moving average of $171.75 and a 200-day moving average of $182.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.25. The company has a market capitalization of $8.87 billion, a PE ratio of 18.96, a P/E/G ratio of 0.98 and a beta of 1.27. Advance Auto Parts has a 1-year low of $145.59 and a 1-year high of $244.55.

Advance Auto Parts (NYSE:AAPGet Rating) last announced its earnings results on Tuesday, August 23rd. The company reported $3.74 earnings per share for the quarter, meeting the consensus estimate of $3.74. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.75 billion. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. During the same period last year, the firm earned $3.40 earnings per share. As a group, equities analysts forecast that Advance Auto Parts will post 12.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Advance Auto Parts

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Advance Auto Parts by 4.0% during the third quarter. Vanguard Group Inc. now owns 7,291,395 shares of the company’s stock valued at $1,139,936,000 after buying an additional 277,906 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Advance Auto Parts by 3.6% during the first quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock worth $685,801,000 after purchasing an additional 114,789 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Advance Auto Parts by 22.4% during the second quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock worth $456,297,000 after purchasing an additional 482,858 shares in the last quarter. American Century Companies Inc. raised its holdings in Advance Auto Parts by 16.1% during the first quarter. American Century Companies Inc. now owns 1,676,374 shares of the company’s stock worth $346,943,000 after purchasing an additional 232,904 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in Advance Auto Parts by 1.2% during the first quarter. Champlain Investment Partners LLC now owns 1,642,607 shares of the company’s stock worth $339,954,000 after purchasing an additional 19,604 shares in the last quarter. Institutional investors own 99.47% of the company’s stock.

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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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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