Advance Auto Parts (NYSE:AAP – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada dropped their price target on shares of Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 17th. Morgan Stanley dropped their target price on Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, November 17th. Citigroup downgraded Advance Auto Parts from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $216.00 to $161.00 in a report on Thursday, November 17th. UBS Group cut Advance Auto Parts from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $182.00 in a research note on Wednesday, November 16th. Finally, Stephens reduced their target price on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating for the company in a research note on Monday, November 21st. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average price target of $193.13.
Advance Auto Parts Stock Up 2.1 {ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303}
Shares of NYSE AAP traded up $2.91 during midday trading on Wednesday, hitting $142.29. 676,796 shares of the stock traded hands, compared to its average volume of 879,114. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.23 and a current ratio of 1.13. Advance Auto Parts has a one year low of $138.79 and a one year high of $244.55. The business has a 50 day moving average price of $163.10 and a two-hundred day moving average price of $174.03. The company has a market cap of $8.55 billion, a PE ratio of 18.29, a P/E/G ratio of 0.92 and a beta of 1.17.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings results on Tuesday, November 15th. The company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). Advance Auto Parts had a net margin of 4.30{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} and a return on equity of 25.97{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303}. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.66 billion. On average, equities analysts predict that Advance Auto Parts will post 12.61 EPS for the current year.
Institutional Investors Weigh In On Advance Auto Parts
Large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. lifted its stake in Advance Auto Parts by 18.6{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,556 shares of the company’s stock valued at $244,000 after purchasing an additional 244 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Advance Auto Parts during the 3rd quarter valued at $916,000. Seaport Global Advisors LLC lifted its position in shares of Advance Auto Parts by 53.2{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} during the 3rd quarter. Seaport Global Advisors LLC now owns 461 shares of the company’s stock valued at $72,000 after buying an additional 160 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in shares of Advance Auto Parts by 10.4{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} during the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,740 shares of the company’s stock worth $585,000 after acquiring an additional 352 shares during the period. Finally, Advisors Capital Management LLC increased its holdings in Advance Auto Parts by 14.3{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} in the 3rd quarter. Advisors Capital Management LLC now owns 56,931 shares of the company’s stock worth $10,463,000 after acquiring an additional 7,139 shares during the last quarter. Hedge funds and other institutional investors own 99.47{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} of the company’s stock.
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.
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