Advance Auto Parts (NYSE:AAP) Stock Rating Reaffirmed by Mizuho

Advance Auto Parts (NYSE:AAP)‘s stock had its “neutral” rating restated by Mizuho in a research report issued on Thursday, Marketbeat.com reports. They currently have a $38.00 target price on the stock, down from their prior target price of $45.00. Mizuho’s price objective points to a potential downside of 8.32% from the company’s current price.

A number of other brokerages have also recently commented on AAP. StockNews.com raised Advance Auto Parts from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. UBS Group lifted their price objective on Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. TD Cowen decreased their price objective on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 23rd. Bank of America lifted their price objective 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. Finally, Truist Financial reduced their target price on Advance Auto Parts from $63.00 to $46.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.54.

Advance Auto Parts Trading Up 5.0 %

AAP stock opened at $41.45 on Thursday. The business has a fifty day moving average price of $55.34 and a 200 day moving average price of $66.57. Advance Auto Parts has a fifty-two week low of $37.51 and a fifty-two week high of $88.56. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 60.07, a P/E/G ratio of 1.26 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.30.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, August 22nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.22). The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.67 billion. Advance Auto Parts had a net margin of 0.01% and a return on equity of 0.05%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $1.43 earnings per share. Analysts expect that Advance Auto Parts will post 2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Advance Auto Parts

Institutional investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC increased its position in Advance Auto Parts by 267.7% during the first quarter. Hexagon Capital Partners LLC now owns 353 shares of the company’s stock worth $30,000 after buying an additional 257 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Advance Auto Parts in the first quarter valued at approximately $34,000. Principal Securities Inc. acquired a new position in shares of Advance Auto Parts in the fourth quarter valued at approximately $27,000. Future Financial Wealth Managment LLC acquired a new position in shares of Advance Auto Parts in the first quarter valued at approximately $43,000. Finally, Mather Group LLC. grew its position in shares of Advance Auto Parts by 1,241.7% in the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock valued at $41,000 after purchasing an additional 596 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Company Profile

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.