Advance Auto Parts Inc (NYSE:AAP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, October 17th.
According to Zacks, “The Zacks Consensus Estimate for Advance Auto Parts’ quarterly earnings has been going up of late. With its relentless focus on store expansions, the company is enhancing its profit. Further, it is also working towards the improvement of comparable store sales and margins, for the long term, which will help the company to expand its profit margin. However, severe competition, increased selling, general & administrative expenses are few concerns faced by the company. Also in the last six months, Advance Auto Parts’ shares have also underperformed in the industry it belongs.”
Several other equities analysts have also weighed in on AAP. BTIG Research reissued a “sell” rating and issued a $109.00 price objective (down from $120.00) on shares of Advance Auto Parts in a research report on Thursday, June 22nd. Credit Suisse Group set a $150.00 price target on shares of Advance Auto Parts and gave the stock a “buy” rating in a research report on Monday, June 26th. Cleveland Research downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 28th. Jefferies Group LLC raised their price target on shares of Advance Auto Parts to $150.00 and gave the company a “hold” rating in a research note on Wednesday, June 28th. Finally, Maxim Group restated a “buy” rating on shares of Advance Auto Parts in a research note on Thursday, June 29th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. Advance Auto Parts currently has an average rating of “Hold” and a consensus target price of $117.91.
Shares of Advance Auto Parts (AAP) traded down $0.47 on Tuesday, reaching $81.33. 480,665 shares of the company traded hands, compared to its average volume of 1,917,305. The firm has a market cap of $6,041.96, a price-to-earnings ratio of 13.84, a PEG ratio of 1.49 and a beta of 0.90. The company has a quick ratio of 0.29, a current ratio of 1.48 and a debt-to-equity ratio of 0.33.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Tuesday, August 15th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.07). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. equities research analysts forecast that Advance Auto Parts will post 5.16 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC boosted its stake in shares of Advance Auto Parts by 28.9% during the first quarter. Global X Management Co. LLC now owns 972 shares of the company’s stock valued at $144,000 after purchasing an additional 218 shares during the period. Harbour Capital Advisors LLC purchased a new stake in Advance Auto Parts in the first quarter worth $148,000. Tobam purchased a new stake in Advance Auto Parts in the second quarter worth $118,000. QS Investors LLC lifted its stake in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after acquiring an additional 9 shares during the period. Finally, Huntington National Bank lifted its stake in Advance Auto Parts by 37.1% in the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock worth $122,000 after acquiring an additional 283 shares during the period.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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