Stephens Lowers Advance Auto Parts (NYSE:AAP) Price Target to $164.00

Stephens Lowers Advance Auto Parts (NYSE:AAP) Price Target to $164.00

Advance Auto Parts (NYSE:AAP – Get Rating) had its target price dropped by Stephens from $196.00 to $164.00 in a report released on Monday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ price objective points to a potential upside of 9.87{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} from the company’s current price.

Several other analysts have also issued reports on the company. The Goldman Sachs Group dropped their price objective on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup lowered Advance Auto Parts from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $216.00 to $161.00 in a research note on Thursday. Royal Bank of Canada dropped their price objective on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Thursday. Morgan Stanley dropped their price objective on Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on Advance Auto Parts from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 16th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.67.

Advance Auto Parts Stock Up 1.2 {49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}

AAP traded up $1.77 on Monday, hitting $149.27. 9,129 shares of the company were exchanged, compared to its average volume of 849,606. Advance Auto Parts has a 12 month low of $145.59 and a 12 month high of $244.55. The company has a market cap of $8.97 billion, a PE ratio of 19.23, a PEG ratio of 0.93 and a beta of 1.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.23 and a current ratio of 1.13. The stock’s fifty day moving average is $171.75 and its 200-day moving average is $181.89.

Advance Auto Parts (NYSE:AAP – Get Rating) last released its earnings results on Tuesday, August 23rd. The company reported $3.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.74. Advance Auto Parts had a return on equity of 25.97{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} and a net margin of 4.30{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the company posted $3.40 earnings per share. Equities research analysts predict that Advance Auto Parts will post 12.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Advance Auto Parts

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in Advance Auto Parts by 1.5{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Janney Montgomery Scott LLC now owns 29,117 shares of the company’s stock worth $5,139,000 after buying an additional 421 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Advance Auto Parts by 47.9{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the first quarter. Mercer Global Advisors Inc. ADV now owns 8,278 shares of the company’s stock worth $1,713,000 after buying an additional 2,682 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Advance Auto Parts by 1.8{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the first quarter. PNC Financial Services Group Inc. now owns 10,659 shares of the company’s stock worth $2,206,000 after purchasing an additional 192 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its stake in Advance Auto Parts by 53.3{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Vestmark Advisory Solutions Inc. now owns 8,461 shares of the company’s stock worth $1,465,000 after purchasing an additional 2,941 shares during the last quarter. Finally, Central Bank & Trust Co. lifted its stake in Advance Auto Parts by 61.6{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Central Bank & Trust Co. now owns 223 shares of the company’s stock worth $39,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 99.47{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} of the company’s stock.

About Advance Auto Parts

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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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