Advance Auto Parts Inc (AAP) Rating Lowered to Sell at Citigroup Inc.
Advance Auto Parts Inc (NYSE:AAP) was downgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a report released on Tuesday. They presently have a $82.00 price objective on the stock, down from their prior price objective of $99.00. Citigroup Inc.’s price target suggests a potential downside of 18.08% from the stock’s current price.
Several other analysts have also weighed in on the company. Bank of America Corporation reduced their price objective on Advance Auto Parts from $160.00 to $150.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $160.00 price objective (down from $185.00) on shares of Advance Auto Parts in a research note on Sunday, May 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Advance Auto Parts in a research note on Wednesday, May 31st. BTIG Research reaffirmed a “sell” rating and issued a $109.00 price objective (down from $120.00) on shares of Advance Auto Parts in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $139.00 price objective (down from $164.00) on shares of Advance Auto Parts in a research note on Friday, July 21st. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Advance Auto Parts has a consensus rating of “Hold” and a consensus target price of $123.08.
Shares of Advance Auto Parts (AAP) opened at 100.10 on Tuesday. The firm’s 50-day moving average price is $101.08 and its 200 day moving average price is $127.22. Advance Auto Parts has a one year low of $82.21 and a one year high of $177.83. The company has a market capitalization of $7.39 billion, a PE ratio of 19.98 and a beta of 0.90.
Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.07). The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $1.90 earnings per share. Analysts anticipate that Advance Auto Parts will post $5.17 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. Veritable L.P. increased its holdings in Advance Auto Parts by 0.3% in the second quarter. Veritable L.P. now owns 2,008 shares of the company’s stock worth $234,000 after purchasing an additional 6 shares in the last quarter. Cleararc Capital Inc. increased its holdings in Advance Auto Parts by 0.4% in the first quarter. Cleararc Capital Inc. now owns 1,802 shares of the company’s stock worth $267,000 after purchasing an additional 7 shares in the last quarter. QS Investors LLC increased its holdings in Advance Auto Parts by 0.9% in the second quarter. QS Investors LLC now owns 1,017 shares of the company’s stock worth $119,000 after purchasing an additional 9 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Advance Auto Parts by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,486 shares of the company’s stock worth $640,000 after purchasing an additional 14 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Advance Auto Parts by 3.2% in the first quarter. IFP Advisors Inc now owns 767 shares of the company’s stock worth $114,000 after purchasing an additional 24 shares in the last quarter.
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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