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Advance Auto Parts (NYSE:AAP - Get Rating) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Saturday.
Several other research analysts also recently commented on the company. Royal Bank of Canada lowered their target price on Advance Auto Parts from $247.00 to $217.00 in a research note on Wednesday, May 25th. Morgan Stanley decreased their target price on shares of Advance Auto Parts from $240.00 to $225.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 24th. Citigroup dropped their price target on Advance Auto Parts from $294.00 to $250.00 in a research note on Friday, May 13th. Raymond James reduced their price objective on Advance Auto Parts from $275.00 to $250.00 in a research report on Wednesday, May 25th. Finally, Truist Financial reduced their target price on shares of Advance Auto Parts from $276.00 to $238.00 and set a "buy" rating on the stock in a report on Wednesday, May 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Advance Auto Parts presently has an average rating of "Moderate Buy" and an average target price of $242.17.Advance Auto Parts Trading Down 0.2 %
Shares of Advance Auto Parts stock opened at $207.02 on Friday. The firm's 50-day moving average price is $186.51 and its two-hundred day moving average price is $200.76. The company has a market capitalization of $12.55 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.22 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41. Advance Auto Parts has a 12-month low of $164.00 and a 12-month high of $244.55.
Advance Auto Parts (NYSE:AAP - Get Rating) last announced its quarterly earnings data on Monday, May 23rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.53 by $0.04. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The company's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.34 earnings per share. On average, analysts forecast that Advance Auto Parts will post 13.68 earnings per share for the current fiscal year. Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in AAP. Dean Investment Associates LLC purchased a new position in Advance Auto Parts during the second quarter valued at approximately $2,018,000. Centiva Capital LP grew its position in shares of Advance Auto Parts by 215.6% during the 2nd quarter. Centiva Capital LP now owns 6,164 shares of the company's stock valued at $1,067,000 after purchasing an additional 4,211 shares in the last quarter. National Pension Service increased its holdings in shares of Advance Auto Parts by 14.6% in the second quarter. National Pension Service now owns 14,058 shares of the company's stock worth $2,433,000 after purchasing an additional 1,792 shares during the period. Captrust Financial Advisors raised its position in shares of Advance Auto Parts by 14.3% in the second quarter. Captrust Financial Advisors now owns 67,933 shares of the company's stock worth $11,759,000 after buying an additional 8,496 shares in the last quarter. Finally, Colony Group LLC boosted its stake in Advance Auto Parts by 1.0% during the second quarter. Colony Group LLC now owns 16,103 shares of the company's stock valued at $2,787,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 98.99% of the company's stock. About Advance Auto Parts (Get Rating)
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.Read MoreGet a free copy of the StockNews.com research report on Advance Auto Parts (AAP)2 EV Suppliers Powering To Gains After Raising Views Applied Materials Results Show A Slowing Semiconductor MarketMarketBeat: Week in Review 8/15 - 8/19Apple’s Stock Could Be On The Verge Of Another 30% RallyNear-Term Headwinds Present An Opportunity In Ross Stores
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