Advance Auto Parts (NYSE:AAP) Receives New Coverage from Analysts at StockNews.com

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.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.41 by $0.47. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Advance Auto Parts had a return on equity of 28.53% and a net margin of 4.50%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.07 EPS. Sell-side analysts expect that Advance Auto Parts will post 10.64 earnings per share for the current fiscal year.

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

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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.