Advance Auto Parts, Inc. (NYSE:AAP) Receives Consensus Recommendation of “Hold” from Brokerages

Advance Auto Parts, Inc. (NYSE:AAP) has received a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $55.92.

A number of brokerages recently issued reports on AAP. Evercore ISI lowered their price objective on Advance Auto Parts from $71.00 to $67.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. Roth Capital raised shares of Advance Auto Parts to a “hold” rating in a research report on Tuesday, October 15th. TD Cowen cut their price objective on shares of Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. lowered their target price on shares of Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Wells Fargo & Company cut their price target on Advance Auto Parts from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, September 13th.

Institutional Trading of Advance Auto Parts

A number of large investors have recently modified their holdings of AAP. Diversified Trust Co lifted its position in Advance Auto Parts by 3.5% during the second quarter. Diversified Trust Co now owns 6,787 shares of the company’s stock valued at $430,000 after purchasing an additional 232 shares during the last quarter. OLD National Bancorp IN grew its position in Advance Auto Parts by 6.8% in the second quarter. OLD National Bancorp IN now owns 3,697 shares of the company’s stock worth $234,000 after acquiring an additional 237 shares in the last quarter. Covestor Ltd grew its position in Advance Auto Parts by 8.5% in the first quarter. Covestor Ltd now owns 3,395 shares of the company’s stock worth $289,000 after acquiring an additional 266 shares in the last quarter. Sei Investments Co. increased its stake in Advance Auto Parts by 0.5% in the second quarter. Sei Investments Co. now owns 59,679 shares of the company’s stock valued at $3,779,000 after acquiring an additional 277 shares during the last quarter. Finally, Qsemble Capital Management LP raised its position in Advance Auto Parts by 7.6% during the second quarter. Qsemble Capital Management LP now owns 4,036 shares of the company’s stock valued at $256,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Stock Up 1.8 %

Shares of NYSE:AAP opened at $38.84 on Thursday. Advance Auto Parts has a 1 year low of $35.59 and a 1 year high of $88.56. The company has a market capitalization of $2.32 billion, a PE ratio of 3,884.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.17. The business has a fifty day moving average price of $39.54 and a two-hundred day moving average price of $56.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.22). The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. Advance Auto Parts’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS. Analysts forecast that Advance Auto Parts will post 2.19 earnings per share for the current year.

Advance Auto Parts Company Profile

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.