Advance Auto Parts’ (AAP) “Market Perform” Rating Reaffirmed at Raymond James Financial, Inc.
Advance Auto Parts Inc (NYSE:AAP)‘s stock had its “market perform” rating restated by analysts at Raymond James Financial, Inc. in a report released on Wednesday.
A number of other analysts have also recently weighed in on the stock. Citigroup Inc. cut shares of Advance Auto Parts from a “strong-buy” rating to a “market perform” rating in a report on Wednesday. Barclays PLC reaffirmed an “equal weight” rating and issued a $90.00 price target (down from $93.00) on shares of Advance Auto Parts in a report on Wednesday, August 16th. UBS AG reaffirmed a “buy” rating and set a $118.00 price objective (down previously from $155.00) on shares of Advance Auto Parts in a research report on Wednesday, August 16th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Advance Auto Parts in a research report on Tuesday, August 15th. Finally, Bank of America Corporation set a $77.00 price objective on shares of Advance Auto Parts and gave the stock a “sell” rating in a research note on Thursday, August 17th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. Advance Auto Parts presently has a consensus rating of “Hold” and a consensus target price of $123.08.
Shares of Advance Auto Parts (NYSE AAP) opened at 98.98 on Wednesday. Advance Auto Parts has a 12-month low of $82.21 and a 12-month high of $177.83. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 19.76 and a beta of 0.92. The firm’s 50-day moving average is $96.03 and its 200-day moving average is $121.05.
Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings data on Tuesday, August 15th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.07). The company 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%. Advance Auto Parts’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $1.90 earnings per share. Equities research analysts forecast that Advance Auto Parts will post $5.16 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Advance Auto Parts by 2.7% during the second quarter. Vanguard Group Inc. now owns 6,966,176 shares of the company’s stock valued at $812,186,000 after purchasing an additional 185,970 shares during the last quarter. BlackRock Inc. raised its position in shares of Advance Auto Parts by 25.6% in the second quarter. BlackRock Inc. now owns 5,425,799 shares of the company’s stock valued at $632,593,000 after purchasing an additional 1,105,519 shares during the period. Lazard Asset Management LLC raised its position in shares of Advance Auto Parts by 45.7% in the first quarter. Lazard Asset Management LLC now owns 3,135,361 shares of the company’s stock valued at $464,848,000 after purchasing an additional 983,616 shares during the period. American Century Companies Inc. raised its position in shares of Advance Auto Parts by 32.4% in the second quarter. American Century Companies Inc. now owns 2,104,487 shares of the company’s stock valued at $245,362,000 after purchasing an additional 514,921 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Advance Auto Parts by 51.2% in the first quarter. Point72 Asset Management L.P. now owns 1,538,878 shares of the company’s stock worth $228,154,000 after buying an additional 521,078 shares during 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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