Advance Auto Parts (NYSE:AAP) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The analysts noted that the move was a valuation call.
AAP has been the topic of a number of other reports. Deutsche Bank set a $205.00 price target on shares of Advance Auto Parts and gave the stock a “buy” rating in a research note on Wednesday, November 14th. Zacks Investment Research reiterated a “buy” rating and set a $171.00 price target on shares of Advance Auto Parts in a research note on Monday, December 31st. Morgan Stanley boosted their price target on shares of Advance Auto Parts from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 6th. Wells Fargo & Co reiterated a “hold” rating on shares of Advance Auto Parts in a research note on Tuesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Advance Auto Parts from $220.00 to $222.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 14th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $182.41.
Shares of Advance Auto Parts stock traded down $1.86 on Wednesday, reaching $163.21. 13,052 shares of the stock were exchanged, compared to its average volume of 1,160,691. Advance Auto Parts has a 1-year low of $102.15 and a 1-year high of $186.15. The company has a quick ratio of 0.49, a current ratio of 1.62 and a debt-to-equity ratio of 0.29. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Tuesday, November 13th. The company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.14. Advance Auto Parts had a net margin of 5.83% and a return on equity of 13.99%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business posted $1.43 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that Advance Auto Parts will post 7.11 EPS for the current year.
In other Advance Auto Parts news, Director Fiona P. Dias sold 1,048 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $177.54, for a total transaction of $186,061.92. Following the transaction, the director now directly owns 11,693 shares in the company, valued at $2,075,975.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new stake in shares of Advance Auto Parts in the second quarter valued at about $117,000. Federated Investors Inc. PA purchased a new stake in shares of Advance Auto Parts in the second quarter valued at about $124,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Advance Auto Parts in the third quarter valued at about $164,000. ClariVest Asset Management LLC purchased a new stake in shares of Advance Auto Parts in the third quarter valued at about $173,000. Finally, Signaturefd LLC lifted its holdings in shares of Advance Auto Parts by 362.8% in the second quarter. Signaturefd LLC now owns 1,305 shares of the company’s stock valued at $177,000 after purchasing an additional 1,023 shares in the last quarter. 97.66% of the stock is currently owned by institutional investors.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive replacement parts, batteries, accessories, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. It 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.
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