Advance Auto Parts’ (NYSE:AAP) Buy Rating Reiterated at UBS AG
UBS AG reiterated their buy rating on shares of Advance Auto Parts Inc (NYSE:AAP) in a report released on Monday morning, www.flashratings.com reports. UBS AG currently has a $155.00 target price on the stock, down from their previous target price of $170.00.
Other research analysts have also issued reports about the company. BidaskClub raised Advance Auto Parts from a strong sell rating to a sell rating in a report on Monday, July 31st. Maxim Group reissued a buy rating on shares of Advance Auto Parts in a report on Thursday, June 29th. BTIG Research reissued a sell rating and set a $90.00 target price (down from $109.00) on shares of Advance Auto Parts in a report on Thursday, July 13th. Royal Bank Of Canada decreased their target price on Advance Auto Parts from $153.00 to $125.00 and set a sector perform rating on the stock in a report on Thursday, July 6th. Finally, Citigroup Inc. decreased their target price on Advance Auto Parts from $168.00 to $148.00 and set a neutral rating on the stock in a report on Tuesday, May 30th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $149.06.
Shares of Advance Auto Parts (AAP) opened at 109.18 on Monday. The firm has a market cap of $8.06 billion, a PE ratio of 19.78 and a beta of 0.87. The company has a 50 day moving average of $109.35 and a 200 day moving average of $138.49. Advance Auto Parts has a 52 week low of $99.13 and a 52 week high of $177.83.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Wednesday, May 24th. The company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by $0.60. Advance Auto Parts had a return on equity of 16.02% and a net margin of 4.31%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company earned $2.51 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Advance Auto Parts will post $6.38 EPS for the current fiscal year.
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In related news, Director Adriana Karaboutis purchased 367 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was bought at an average price 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 in the company, valued at approximately $411,657.04. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 1,895 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was bought at an average cost of $132.18 per share, with a total value of $250,481.10. Following the purchase, the director now owns 4,398 shares of the company’s stock, valued at approximately $581,327.64. The disclosure for this purchase can be found here. Insiders acquired 369,462 shares of company stock valued at $49,617,073 over the last quarter. Corporate insiders own 4.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new stake in shares of Advance Auto Parts during the first quarter valued at $2,028,000. BKD Wealth Advisors LLC boosted its stake in shares of Advance Auto Parts by 47.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,968 shares of the company’s stock valued at $346,000 after buying an additional 951 shares during the last quarter. Stevens Capital Management LP boosted its stake in shares of Advance Auto Parts by 7.2% in the first quarter. Stevens Capital Management LP now owns 2,819 shares of the company’s stock valued at $418,000 after buying an additional 190 shares during the last quarter. Strs Ohio boosted its stake in shares of Advance Auto Parts by 0.7% in the first quarter. Strs Ohio now owns 3,955 shares of the company’s stock valued at $586,000 after buying an additional 28 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Advance Auto Parts by 98.8% in the first quarter. Morgan Stanley now owns 394,710 shares of the company’s stock valued at $58,518,000 after buying an additional 196,158 shares during the last quarter.
About Advance Auto Parts
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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