Advance Auto Parts Inc (AAP) Receives Buy Rating from Jefferies Group LLC
Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research note issued on Tuesday. They currently have a $130.00 price objective on the stock. Jefferies Group LLC’s price target would indicate a potential upside of 37.71% from the company’s previous close.
A number of other brokerages have also recently issued reports on AAP. UBS AG restated a “buy” rating and set a $180.00 target price (down previously from $200.00) on shares of Advance Auto Parts in a research report on Wednesday, May 17th. Citigroup Inc. cut their target price on shares of Advance Auto Parts from $168.00 to $148.00 and set a “neutral” rating for the company in a research report on Tuesday, May 30th. Morgan Stanley restated an “overweight” rating and set a $160.00 target price (down previously from $185.00) on shares of Advance Auto Parts in a research report on Sunday, May 28th. Wedbush restated an “outperform” rating and set a $160.00 target price (down previously from $185.00) on shares of Advance Auto Parts in a research report on Sunday, May 28th. Finally, Barclays PLC restated a “sell” rating and set a $120.00 target price on shares of Advance Auto Parts in a research report on Friday, May 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $124.03.
Shares of Advance Auto Parts (AAP) opened at 94.40 on Tuesday. Advance Auto Parts has a 52 week low of $82.21 and a 52 week high of $177.83. The stock has a market cap of $6.97 billion, a PE ratio of 18.85 and a beta of 0.90. The company’s 50-day moving average is $101.45 and its 200 day moving average is $127.90.
Advance Auto Parts (NYSE:AAP) last announced its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 EPS. Analysts forecast that Advance Auto Parts will post $5.17 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc lifted its position in Advance Auto Parts by 3.2% during the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock valued at $114,000 after buying an additional 24 shares in the last quarter. Tobam acquired a new position in Advance Auto Parts during the second quarter valued at approximately $118,000. QS Investors LLC lifted its position in Advance Auto Parts by 0.9% during the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock valued at $119,000 after buying an additional 9 shares in the last quarter. Huntington National Bank lifted its position in Advance Auto Parts by 37.1% during the second quarter. Huntington National Bank now owns 1,046 shares of the company’s stock valued at $122,000 after buying an additional 283 shares in the last quarter. Finally, Global X Management Co. LLC lifted its position in Advance Auto Parts by 14.3% during the second quarter. Global X Management Co. LLC now owns 1,111 shares of the company’s stock valued at $130,000 after buying an additional 139 shares in 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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