Shares of Advance Auto Parts, Inc. (NYSE:AAP) have earned an average recommendation of “Buy” from the twenty ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $182.07.
A number of analysts have commented on AAP shares. Citigroup reiterated a “hold” rating and issued a $156.00 price objective (down previously from $182.00) on shares of Advance Auto Parts in a research report on Wednesday, August 14th. UBS Group cut their target price on Advance Auto Parts from $205.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Wedbush restated an “outperform” rating and set a $200.00 target price on shares of Advance Auto Parts in a research report on Thursday, July 11th. Credit Suisse Group cut their target price on Advance Auto Parts from $195.00 to $162.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, William Blair restated an “outperform” rating on shares of Advance Auto Parts in a research report on Wednesday, May 22nd.
Institutional investors have recently bought and sold shares of the stock. AJO LP increased its stake in shares of Advance Auto Parts by 2.5% in the 1st quarter. AJO LP now owns 18,687 shares of the company’s stock valued at $3,187,000 after buying an additional 448 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Advance Auto Parts by 25.0% during the first quarter. Eagle Asset Management Inc. now owns 20,735 shares of the company’s stock worth $3,535,000 after purchasing an additional 4,145 shares during the period. Manning & Napier Group LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth $27,472,000. Parametric Portfolio Associates LLC grew its stake in shares of Advance Auto Parts by 0.7% during the first quarter. Parametric Portfolio Associates LLC now owns 212,221 shares of the company’s stock worth $36,190,000 after purchasing an additional 1,426 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Advance Auto Parts during the second quarter worth $426,000. Institutional investors and hedge funds own 97.97% of the company’s stock.
Advance Auto Parts (NYSE:AAP) last released its earnings results on Tuesday, August 13th. The company reported $2.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.22). The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.36 billion. Advance Auto Parts had a net margin of 4.52% and a return on equity of 15.16%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $1.97 EPS. Sell-side analysts expect that Advance Auto Parts will post 7.98 earnings per share for the current year.
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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