Stock analysts at StockNews.com began coverage on shares of Advance Auto Parts (NYSE:AAP – Get Rating) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.
Other equities research analysts have also issued research reports about the stock. Argus lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Evercore ISI boosted their price target on Advance Auto Parts to $145.00 in a report on Tuesday, April 18th. Morgan Stanley dropped their price target on Advance Auto Parts from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 1st. Citigroup dropped their price target on Advance Auto Parts from $153.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays raised Advance Auto Parts from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $140.00 to $129.00 in a research report on Friday, March 31st. Twelve investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Advance Auto Parts presently has a consensus rating of “Hold” and an average price target of $161.17.
Advance Auto Parts Price Performance
Shares of NYSE AAP opened at $122.10 on Thursday. The business has a 50 day moving average price of $122.21 and a two-hundred day moving average price of $141.65. Advance Auto Parts has a fifty-two week low of $109.05 and a fifty-two week high of $212.86. The firm has a market cap of $7.24 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.01 and a beta of 1.10. The company has a quick ratio of 0.21, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.
Institutional Investors Weigh In On Advance Auto Parts
A number of institutional investors have recently added to or reduced their stakes in AAP. Mutual of America Capital Management LLC boosted its holdings in Advance Auto Parts by 0.5% during the third quarter. Mutual of America Capital Management LLC now owns 12,928 shares of the company’s stock valued at $2,021,000 after acquiring an additional 63 shares during the period. Assetmark Inc. increased its holdings in shares of Advance Auto Parts by 3.8% during the 3rd quarter. Assetmark Inc. now owns 1,835 shares of the company’s stock worth $287,000 after purchasing an additional 68 shares during the period. SeaBridge Investment Advisors LLC grew its holdings in shares of Advance Auto Parts by 1.3% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 5,547 shares of the company’s stock worth $816,000 after purchasing an additional 69 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Advance Auto Parts by 1.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,189 shares of the company’s stock worth $616,000 after purchasing an additional 71 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in shares of Advance Auto Parts by 4.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,717 shares of the company’s stock worth $252,000 after acquiring an additional 77 shares during the period. 96.04% of the stock is currently owned by institutional investors and hedge funds.
About Advance Auto Parts
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.
- Get a free copy of the StockNews.com research report on Advance Auto Parts (AAP)
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