Advance Auto Parts (NYSE:AAP) Trading Down 7.5%

Advance Auto Parts, Inc. (NYSE:AAP)’s share price fell 7.5% during mid-day trading on Tuesday . The company traded as low as $154.31 and last traded at $156.14, 4,327,588 shares were traded during mid-day trading. An increase of 275% from the average session volume of 1,152,991 shares. The stock had previously closed at $168.82.

A number of brokerages have recently issued reports on AAP. Guggenheim downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 14th. Zacks Investment Research raised shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 price objective on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. set a $222.00 price objective on shares of Advance Auto Parts and gave the stock a “buy” rating in a research report on Monday, August 12th. Wolfe Research downgraded shares of Advance Auto Parts from an “outperform” rating to a “peer perform” rating and set a $128.00 price objective on the stock. in a research report on Tuesday, October 8th. Finally, Evercore ISI reaffirmed a “buy” rating on shares of Advance Auto Parts in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $181.65.

The company has a market cap of $11.95 billion, a PE ratio of 21.90, a P/E/G ratio of 1.83 and a beta of 0.84. The company has a current ratio of 1.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $162.83 and its two-hundred day simple moving average is $155.36.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, November 12th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. Advance Auto Parts had a net margin of 4.52% and a return on equity of 15.16%. Advance Auto Parts’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. As a group, analysts predict that Advance Auto Parts, Inc. will post 7.92 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in AAP. FMR LLC boosted its holdings in shares of Advance Auto Parts by 287.6% in the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock valued at $23,708,000 after acquiring an additional 103,160 shares during the last quarter. Private Trust Co. NA purchased a new stake in shares of Advance Auto Parts in the 2nd quarter valued at $548,000. Zions Bancorporation N.A. boosted its holdings in shares of Advance Auto Parts by 292.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,577 shares of the company’s stock valued at $243,000 after acquiring an additional 1,175 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Advance Auto Parts in the 2nd quarter valued at $426,000. Finally, NN Investment Partners Holdings N.V. boosted its holdings in shares of Advance Auto Parts by 9.5% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 10,959 shares of the company’s stock valued at $1,690,000 after acquiring an additional 947 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

About Advance Auto Parts (NYSE:AAP)

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.

Featured Article: What type of investment options does a Roth IRA provide?

Receive News & Ratings for Advance Auto Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advance Auto Parts and related companies with MarketBeat.com's FREE daily email newsletter.