Advance Auto Parts (NYSE:AAP – Get Free Report) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $55.00 to $57.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 24.81% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. Mizuho set a $50.00 price objective on Advance Auto Parts in a report on Friday. Bank of America assumed coverage on Advance Auto Parts in a report on Monday, October 26th. They set an “underperform” rating and a $42.00 target price on the stock. UBS Group reduced their price target on Advance Auto Parts from $65.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 21st. The Goldman Sachs Group set a $49.00 price target on Advance Auto Parts in a research note on Friday, August 21st. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Advance Auto Parts in a research report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.39.
Get Our Latest Research Report on AAP
Advance Auto Parts Stock Performance
Shares of AAP opened at $45.67 on Friday. Advance Auto Parts has a 12 month low of $37.89 and a 12 month high of $65.20. The firm has a fifty day simple moving average of $43.30 and a 200 day simple moving average of $51.73. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 0.87 and a beta of 1.02. The company has a current ratio of 1.63, a quick ratio of 0.80 and a debt-to-equity ratio of 1.34.
Advance Auto Parts (NYSE:AAP – Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Advance Auto Parts had a net margin of 1.16% and a return on equity of 9.41%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts forecast that Advance Auto Parts will post 2.94 EPS for the current fiscal year.
Institutional Investors Weigh In On Advance Auto Parts
Several hedge funds have recently bought and sold shares of AAP. BlackRock Inc. bought a new stake in Advance Auto Parts in the 2nd quarter valued at $581,909,000. Pzena Investment Management LLC acquired a new stake in Advance Auto Parts during the 2nd quarter valued at $273,115,000. Maple Rock Capital Partners Inc. lifted its holdings in Advance Auto Parts by 86.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,421,040 shares of the company’s stock valued at $150,637,000 after purchasing an additional 1,122,900 shares during the last quarter. Bank of America Corp DE bought a new position in Advance Auto Parts during the second quarter worth $59,626,000. Finally, Bank of New York Mellon Corp bought a new position in Advance Auto Parts during the second quarter worth $29,860,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.
About Advance Auto Parts
Advance Auto Parts, Inc is a retailer of automotive aftermarket parts, accessories and maintenance products. Its offerings include replacement parts, batteries, tools, fluids and other supplies for a range of vehicles.
The company serves both do-it-yourself customers and professional automotive repair shops through its stores, online channels and network of independent locations. Its retail banners include Advance Auto Parts and Carquest.
Advance Auto Parts traces its roots to 1932, when the business began in Roanoke, Virginia.
Further Reading
- Five stocks we like better than Advance Auto Parts
- America’s Rare Earth Clock Is Running Out, But the Bottleneck Isn’t Where You Think
- Atlassian Tanks After Huge Run as Guidance Disappoints, But Strength Remains
- Lemonade’s Revenue Soars 73%—So Why Did Its Stock Turn Sour After Earnings?
- Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
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.
