Advance Auto Parts Inc (NYSE:AAP) PT Raised to $120.00 at Barclays PLC
Advance Auto Parts Inc (NYSE:AAP) had its price objective hoisted by equities researchers at Barclays PLC from $93.00 to $120.00 in a research note issued on Thursday, July 6th. The brokerage currently has an “underweight” rating on the stock. Barclays PLC’s price target suggests a potential upside of 8.10% from the stock’s current price.
AAP has been the subject of a number of other research reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Advance Auto Parts in a research report on Wednesday, May 24th. Wedbush reiterated an “outperform” rating and set a $185.00 price target on shares of Advance Auto Parts in a research report on Wednesday, March 15th. UBS AG reiterated a “buy” rating and set a $170.00 price target (down previously from $180.00) on shares of Advance Auto Parts in a research report on Thursday, May 25th. BTIG Research reiterated a “sell” rating and set a $120.00 price target on shares of Advance Auto Parts in a research report on Tuesday, March 28th. Finally, Royal Bank Of Canada decreased their price objective on Advance Auto Parts from $191.00 to $168.00 and set an “outperform” rating on the stock in a report on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Advance Auto Parts has an average rating of “Hold” and a consensus price target of $149.94.
Shares of Advance Auto Parts (NYSE AAP) traded up 0.43% on Thursday, reaching $111.01. The company’s stock had a trading volume of 944,082 shares. The stock has a market cap of $8.19 billion, a P/E ratio of 20.11 and a beta of 0.87. The firm’s 50-day moving average price is $112.57 and its 200-day moving average price is $140.70. Advance Auto Parts has a 12 month low of $99.13 and a 12 month high of $177.83.
Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.20 by $0.60. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. Advance Auto Parts had a net margin of 4.31% and a return on equity of 16.02%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.51 EPS. On average, analysts forecast that Advance Auto Parts will post $6.41 earnings per share for the current fiscal year.
In other Advance Auto Parts news, Director Adriana Karaboutis bought 367 shares of Advance Auto Parts stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of $135.28 per share, with a total value of $49,647.76. Following the completion of the purchase, the director now owns 3,043 shares of the company’s stock, valued at $411,657.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brad W. Buss bought 1,200 shares of Advance Auto Parts stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $134.47 per share, for a total transaction of $161,364.00. Following the completion of the purchase, the director now directly owns 1,928 shares of the company’s stock, valued at approximately $259,258.16. The disclosure for this purchase can be found here. Insiders have bought 369,462 shares of company stock worth $49,617,073 over the last three months. Insiders own 4.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Advance Auto Parts during the fourth quarter valued at about $11,661,000. Thrivent Financial for Lutherans raised its stake in Advance Auto Parts by 5.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,550 shares of the company’s stock valued at $431,000 after buying an additional 130 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Advance Auto Parts during the fourth quarter valued at $715,000. Kentucky Retirement Systems purchased a new stake in Advance Auto Parts during the fourth quarter valued at $904,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Advance Auto Parts during the fourth quarter valued at $403,000.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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