Advance Auto Parts (NYSE:AAP – Get Rating) had its price target cut by research analysts at Citigroup from $161.00 to $159.00 in a research note issued to investors on Friday, The Fly reports. Citigroup’s price objective would suggest a potential upside of 7.71% from the company’s previous close.
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AAP has been the topic of several other reports. Wells Fargo & Company lowered their price target on shares of Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating for the company in a report on Thursday, January 5th. DA Davidson dropped their target price on shares of Advance Auto Parts from $200.00 to $170.00 in a report on Thursday, November 17th. Royal Bank of Canada cut their target price on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 17th. Guggenheim lowered Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Thursday, November 17th. Finally, Argus cut their price objective on Advance Auto Parts from $220.00 to $185.00 in a research report on Monday, December 5th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $189.88.
Advance Auto Parts Stock Performance
Advance Auto Parts stock opened at $147.62 on Friday. The firm has a fifty day simple moving average of $147.71 and a two-hundred day simple moving average of $168.78. Advance Auto Parts has a twelve month low of $138.52 and a twelve month high of $237.39. The company has a market capitalization of $8.87 billion, a PE ratio of 18.97, a P/E/G ratio of 0.88 and a beta of 1.15. The company has a quick ratio of 0.23, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its earnings results on Tuesday, November 15th. The company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.66 billion. Research analysts expect that Advance Auto Parts will post 12.59 EPS for the current year.
Institutional Trading of Advance Auto Parts
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd grew its holdings in Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares during the period. Ellevest Inc. increased its position in Advance Auto Parts by 161.0% during the 2nd quarter. Ellevest Inc. now owns 201 shares of the company’s stock valued at $35,000 after buying an additional 124 shares in the last quarter. Private Trust Co. NA purchased a new position in Advance Auto Parts during the second quarter valued at $36,000. Central Bank & Trust Co. raised its stake in Advance Auto Parts by 61.6% during the second quarter. Central Bank & Trust Co. now owns 223 shares of the company’s stock valued at $39,000 after buying an additional 85 shares during the last quarter. Finally, First Personal Financial Services grew its stake in shares of Advance Auto Parts by 113.3% in the third quarter. First Personal Financial Services now owns 224 shares of the company’s stock worth $35,000 after acquiring an additional 119 shares during the last quarter. 96.04% of the stock is owned by hedge funds and other 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.
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