Morgan Stanley Lowers Advance Auto Parts (NYSE:AAP) Price Target to $55.00

Advance Auto Parts (NYSE:AAP) had its target price dropped by Morgan Stanley from $60.00 to $55.00 in a research note issued to investors on Friday,MarketScreener reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 16.62% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen raised shares of Advance Auto Parts from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Evercore ISI lifted their target price on shares of Advance Auto Parts from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Tuesday, August 12th. Argus reaffirmed a “hold” rating and set a $60.52 price target on shares of Advance Auto Parts in a research report on Friday, August 29th. Wolfe Research initiated coverage on Advance Auto Parts in a research report on Thursday, September 18th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Advance Auto Parts in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $51.78.

Advance Auto Parts Stock Performance

Shares of AAP stock opened at $47.16 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 1.27. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -7.40 and a beta of 1.08. Advance Auto Parts has a one year low of $28.89 and a one year high of $70.00. The company has a 50 day moving average price of $58.07 and a 200 day moving average price of $51.73.

Advance Auto Parts (NYSE:AAP) last issued its earnings results on Thursday, October 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.18. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Sell-side analysts anticipate that Advance Auto Parts will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AAP. Savoir Faire Capital Management L.P. increased its position in shares of Advance Auto Parts by 11.4% in the 3rd quarter. Savoir Faire Capital Management L.P. now owns 226,990 shares of the company’s stock worth $13,937,000 after purchasing an additional 23,172 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Advance Auto Parts by 157.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 28,821 shares of the company’s stock valued at $1,770,000 after buying an additional 17,634 shares during the last quarter. Westfuller Advisors LLC acquired a new stake in Advance Auto Parts during the third quarter valued at approximately $56,000. Bailard Inc. bought a new position in Advance Auto Parts during the 3rd quarter worth approximately $662,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Advance Auto Parts in the 3rd quarter worth approximately $1,840,000. 88.70% of the stock is currently owned by institutional investors.

About Advance Auto Parts

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.