Advance Auto Parts (NYSE:AAP) Lowered to “Neutral” at Guggenheim

Guggenheim lowered shares of Advance Auto Parts (NYSE:AAP) from a buy rating to a neutral rating in a research note released on Wednesday morning, BenzingaRatingsTable reports.

A number of other research firms have also recently commented on AAP. Northcoast Research reiterated a neutral rating on shares of Advance Auto Parts in a report on Thursday, June 27th. ValuEngine cut shares of Advance Auto Parts from a buy rating to a hold rating in a report on Tuesday, June 11th. Wells Fargo & Co restated a hold rating and issued a $175.00 target price on shares of Advance Auto Parts in a report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of Advance Auto Parts from a hold rating to a buy rating and set a $161.00 target price on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI restated a buy rating on shares of Advance Auto Parts in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. Advance Auto Parts has an average rating of Buy and a consensus price target of $181.28.

Shares of NYSE:AAP traded down $0.85 during trading on Wednesday, reaching $135.64. 51,459 shares of the stock traded hands, compared to its average volume of 1,179,133. The firm’s 50-day moving average price is $152.93. Advance Auto Parts has a 52-week low of $130.09 and a 52-week high of $186.15. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.31 and a current ratio of 1.35. The company has a market capitalization of $10.19 billion, a PE ratio of 19.07, a P/E/G ratio of 1.50 and a beta of 0.87.

Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $2.00 EPS for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company earned $1.97 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Analysts predict that Advance Auto Parts will post 8.19 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Berman Capital Advisors LLC boosted its stake in shares of Advance Auto Parts by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock worth $33,000 after acquiring an additional 140 shares during the last quarter. Citizens Financial Group Inc RI boosted its stake in shares of Advance Auto Parts by 466.7% during the 2nd quarter. Citizens Financial Group Inc RI now owns 221 shares of the company’s stock worth $34,000 after acquiring an additional 182 shares during the last quarter. Nelson Roberts Investment Advisors LLC purchased a new position in shares of Advance Auto Parts during the 1st quarter worth $40,000. Avestar Capital LLC boosted its stake in shares of Advance Auto Parts by 625.0% during the 2nd quarter. Avestar Capital LLC now owns 406 shares of the company’s stock worth $42,000 after acquiring an additional 350 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of Advance Auto Parts during the 1st quarter worth $43,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

About Advance Auto Parts

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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