Advance Auto Parts’ (AAP) Hold Rating Reiterated at Citigroup

Advance Auto Parts (NYSE:AAP)‘s stock had its “hold” rating restated by stock analysts at Citigroup in a research note issued to investors on Wednesday, AnalystRatings.com reports. They currently have a $156.00 target price on the stock. Citigroup‘s price objective indicates a potential upside of 9.68% from the company’s current price.

Other analysts have also recently issued reports about the company. Guggenheim cut Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Wednesday. Zacks Investment Research upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and set a $161.00 target price on the stock in a research report on Wednesday, July 31st. Wells Fargo & Co restated a “hold” rating and issued a $175.00 target price on shares of Advance Auto Parts in a research report on Wednesday, May 22nd. Wedbush restated an “outperform” rating and issued a $200.00 target price on shares of Advance Auto Parts in a research report on Thursday, July 11th. Finally, William Blair restated an “outperform” rating on shares of Advance Auto Parts in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $184.89.

AAP opened at $142.23 on Wednesday. Advance Auto Parts has a 12 month low of $130.09 and a 12 month high of $186.15. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.79. The firm has a market cap of $10.35 billion, a PE ratio of 19.95, a P/E/G ratio of 1.52 and a beta of 0.87. The firm has a 50 day simple moving average of $153.32.

Advance Auto Parts (NYSE:AAP) last posted its earnings results on Tuesday, August 13th. The company reported $2.00 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.21). Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business earned $1.97 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts predict that Advance Auto Parts will post 8.19 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of AAP. National Pension Service acquired a new stake in shares of Advance Auto Parts in the second quarter worth $342,000. Asset Management One Co. Ltd. boosted its position in shares of Advance Auto Parts by 12.6% in the second quarter. Asset Management One Co. Ltd. now owns 37,265 shares of the company’s stock worth $5,744,000 after buying an additional 4,177 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Advance Auto Parts by 38.9% in the second quarter. Jacobs Levy Equity Management Inc. now owns 63,279 shares of the company’s stock worth $9,754,000 after buying an additional 17,720 shares during the period. BlackRock Inc. boosted its position in shares of Advance Auto Parts by 7.2% in the second quarter. BlackRock Inc. now owns 5,326,148 shares of the company’s stock worth $820,972,000 after buying an additional 358,324 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Advance Auto Parts by 1.0% in the second quarter. Nomura Asset Management Co. Ltd. now owns 14,487 shares of the company’s stock worth $2,233,000 after buying an additional 137 shares during the period. Institutional investors own 99.11% of the company’s stock.

Advance Auto Parts Company Profile

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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