Brokerages Set Advance Auto Parts, Inc. (NYSE:AAP) Price Target at $55.92

Shares of Advance Auto Parts, Inc. (NYSE:AAPGet Free Report) have been given a consensus recommendation of “Hold” by the fifteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $55.54.

AAP has been the topic of several analyst reports. TD Cowen reduced their price target on Advance Auto Parts from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 23rd. Truist Financial reduced their price target on Advance Auto Parts from $46.00 to $41.00 and set a “hold” rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their price target on Advance Auto Parts from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Roth Capital upgraded Advance Auto Parts to a “hold” rating in a report on Tuesday, October 15th. Finally, Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Tuesday, October 15th.

Read Our Latest Report on Advance Auto Parts

Institutional Trading of Advance Auto Parts

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in Advance Auto Parts during the first quarter worth about $34,000. Mather Group LLC. increased its stake in Advance Auto Parts by 1,241.7% during the second quarter. Mather Group LLC. now owns 644 shares of the company’s stock worth $41,000 after purchasing an additional 596 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Advance Auto Parts during the second quarter worth about $41,000. Blue Trust Inc. grew its position in shares of Advance Auto Parts by 56.7% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the company’s stock worth $47,000 after buying an additional 436 shares in the last quarter. Finally, AM Squared Ltd acquired a new position in shares of Advance Auto Parts during the second quarter worth about $63,000. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Advance Auto Parts Trading Down 2.8 %

Shares of AAP opened at $37.90 on Thursday. Advance Auto Parts has a 52-week low of $35.59 and a 52-week high of $88.56. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The firm’s fifty day moving average is $39.25 and its two-hundred day moving average is $55.46. The stock has a market cap of $2.26 billion, a PE ratio of 3,790.00, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17.

Advance Auto Parts (NYSE:AAPGet Free Report) last posted its quarterly 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). Advance Auto Parts had a return on equity of 0.05% and a net margin of 0.01%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The firm’s revenue was down .1% on a year-over-year basis. Research analysts forecast that Advance Auto Parts will post 2.19 earnings per share for the current fiscal year.

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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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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