Advance Auto Parts (NYSE:AAP) Raised to “Buy” at StockNews.com

Advance Auto Parts (NYSE:AAP) Raised to “Buy” at StockNews.com


Advance Auto Parts (NYSE:AAP – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other equities analysts have also issued reports about the company. Morgan Stanley lifted their price objective on Advance Auto Parts from $235.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 16th. Evercore ISI assumed coverage on Advance Auto Parts in a research note on Tuesday, February 15th. They issued a “buy” rating and a $275.00 price objective on the stock. Truist Financial assumed coverage on Advance Auto Parts in a research note on Thursday, January 13th. They issued a “buy” rating and a $273.00 price target on the stock. Royal Bank of Canada assumed coverage on Advance Auto Parts in a research note on Thursday, January 27th. They issued a “sector perform” rating and a $239.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 15th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $256.65.

Advance Auto Parts stock opened at $200.49 on Tuesday. Advance Auto Parts has a 12-month low of $187.16 and a 12-month high of $244.55. The company has a quick ratio of 0.31, a current ratio of 1.21 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $211.33 and its two-hundred day moving average price is $224.20. The stock has a market cap of $12.25 billion, a PE ratio of 21.04, a P/E/G ratio of 1.14 and a beta of 1.29.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings results on Monday, February 14th. The company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.10. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Advance Auto Parts had a return on equity of 23.63{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} and a net margin of 5.60{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac}. The business’s quarterly revenue was up 1.3{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 earnings per share. As a group, analysts expect that Advance Auto Parts will post 13.77 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in AAP. FMR LLC grew its position in Advance Auto Parts by 287.6{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} during the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock worth $23,708,000 after acquiring an additional 103,160 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Advance Auto Parts by 3.2{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} in the 3rd quarter. Victory Capital Management Inc. now owns 37,720 shares of the company’s stock worth $7,879,000 after buying an additional 1,181 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Advance Auto Parts in the 3rd quarter worth approximately $217,000. Deutsche Bank AG grew its position in shares of Advance Auto Parts by 2.4{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} in the 3rd quarter. Deutsche Bank AG now owns 233,827 shares of the company’s stock worth $48,841,000 after buying an additional 5,566 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its position in shares of Advance Auto Parts by 0.8{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} in the 3rd quarter. Advisor Group Holdings Inc. now owns 15,052 shares of the company’s stock worth $3,145,000 after buying an additional 120 shares during the last quarter. 98.99{7e44665ad31c7163a3225b5cdeca12ae8e1ba5a9651d05b2285576263eb8f3ac} of the stock is currently owned by institutional investors.

Advance Auto Parts Company Profile (Get Rating)

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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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)



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