Advance Auto Parts’ (AAP) Hold Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company reissued their hold rating on shares of Advance Auto Parts (NYSE:AAP) in a research report sent to investors on Tuesday morning, Stock Target Advisor reports. They currently have a $60.00 price objective on the stock.

A number of other research firms have also commented on AAP. Royal Bank of Canada dropped their price objective on shares of Advance Auto Parts from $68.00 to $65.00 and set a sector perform rating on the stock in a research note on Thursday, May 30th. StockNews.com raised Advance Auto Parts from a sell rating to a hold rating in a research note on Thursday, May 30th. Bank of America upped their price target on Advance Auto Parts from $51.00 to $55.00 and gave the stock an underperform rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lowered their price objective on shares of Advance Auto Parts from $68.00 to $55.00 and set a neutral rating on the stock in a research report on Friday, August 16th. Finally, Wedbush restated a neutral rating and set a $65.00 price objective on shares of Advance Auto Parts in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $63.36.

Advance Auto Parts Trading Down 0.1 %

NYSE:AAP opened at $60.82 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. Advance Auto Parts has a 52-week low of $47.73 and a 52-week high of $88.56. The stock’s 50 day moving average price is $61.53 and its 200 day moving average price is $68.87. The company has a market capitalization of $3.63 billion, a PE ratio of 88.14, a P/E/G ratio of 1.20 and a beta of 1.20.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the business posted $0.72 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, research analysts anticipate that Advance Auto Parts will post 3.7 EPS for the current year.

Institutional Investors Weigh In On Advance Auto Parts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC boosted its position in shares of Advance Auto Parts by 267.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after buying an additional 257 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Advance Auto Parts in the first quarter worth $34,000. Principal Securities Inc. purchased a new stake in shares of Advance Auto Parts in the fourth quarter valued at $27,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Advance Auto Parts during the first quarter valued at $43,000. Finally, Mather Group LLC. increased its position in Advance Auto Parts by 1,241.7% during the 2nd quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

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.