Morgan Stanley Forecasts Strong Price Appreciation for Advance Auto Parts (NYSE:AAP) Stock

Advance Auto Parts (NYSE:AAP) had its price target raised by equities researchers at Morgan Stanley from $55.00 to $60.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 1.80% from the company’s previous close.

A number of other equities analysts also recently weighed in on AAP. Wells Fargo & Company upped their target price on Advance Auto Parts from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, August 15th. Citigroup set a $60.00 target price on Advance Auto Parts in a report on Thursday, August 14th. Roth Capital set a $50.00 target price on Advance Auto Parts and gave the company a “neutral” rating in a report on Wednesday, May 28th. Bank of America boosted their price target on Advance Auto Parts from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Friday, May 23rd. Finally, DA Davidson set a $65.00 price target on Advance Auto Parts in a research note on Thursday, August 14th. One analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Advance Auto Parts presently has an average rating of “Reduce” and an average price target of $52.03.

Advance Auto Parts Stock Performance

Advance Auto Parts stock opened at $61.10 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.27 and a quick ratio of 0.49. The company has a market cap of $3.67 billion, a PE ratio of -9.59 and a beta of 1.06. Advance Auto Parts has a 12 month low of $28.89 and a 12 month high of $70.00. The company has a fifty day moving average price of $59.18 and a two-hundred day moving average price of $46.47.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 14th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. Advance Auto Parts had a negative net margin of 4.37% and a negative return on equity of 1.97%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the company earned $0.75 EPS. Advance Auto Parts’s quarterly revenue was down 7.7% on a year-over-year basis. Advance Auto Parts has set its FY 2025 guidance at 1.200-2.20 EPS. Research analysts expect that Advance Auto Parts will post -0.46 earnings per share for the current year.

Insider Buying and Selling at Advance Auto Parts

In other Advance Auto Parts news, SVP Jason Hand sold 948 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $48.52, for a total value of $45,996.96. Following the sale, the senior vice president owned 9,876 shares in the company, valued at approximately $479,183.52. The trade was a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AAP. AMG National Trust Bank boosted its stake in Advance Auto Parts by 38.1% in the 1st quarter. AMG National Trust Bank now owns 43,615 shares of the company’s stock valued at $1,710,000 after purchasing an additional 12,040 shares during the period. Raymond James Financial Inc. lifted its position in shares of Advance Auto Parts by 13.0% during the 1st quarter. Raymond James Financial Inc. now owns 210,886 shares of the company’s stock valued at $8,269,000 after acquiring an additional 24,342 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Advance Auto Parts by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,741,701 shares of the company’s stock valued at $107,500,000 after acquiring an additional 13,412 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Advance Auto Parts by 455.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 58,790 shares of the company’s stock valued at $2,305,000 after acquiring an additional 48,198 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Advance Auto Parts by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 294,537 shares of the company’s stock valued at $11,549,000 after acquiring an additional 6,805 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

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.