Advance Auto Parts (NYSE:AAP) received a $120.00 price objective from equities researchers at Morgan Stanley in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 18.99% from the company’s current price.

A number of other research firms also recently weighed in on AAP. Gabelli reaffirmed a “buy” rating on shares of Advance Auto Parts in a research report on Wednesday, August 16th. Jefferies Group reaffirmed a “buy” rating and issued a $130.00 target price on shares of Advance Auto Parts in a research report on Tuesday, September 12th. UBS reaffirmed a “buy” rating and issued a $118.00 target price (down previously from $155.00) on shares of Advance Auto Parts in a research report on Wednesday, August 16th. Royal Bank of Canada raised their target price on shares of Advance Auto Parts from $100.00 to $109.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Finally, Barclays raised shares of Advance Auto Parts from an “underweight” rating to an “equal weight” rating and set a $90.00 target price for the company in a research report on Monday, August 21st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Advance Auto Parts has an average rating of “Hold” and a consensus price target of $106.32.

Shares of Advance Auto Parts (NYSE:AAP) traded up $0.54 during trading hours on Tuesday, hitting $100.85. 1,490,200 shares of the company were exchanged, compared to its average volume of 1,688,617. Advance Auto Parts has a fifty-two week low of $78.81 and a fifty-two week high of $177.50. The company has a current ratio of 1.52, a quick ratio of 0.32 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7,412.71, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.80 and a beta of 1.00.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.18. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.21 billion. Advance Auto Parts had a net margin of 3.75% and a return on equity of 13.51%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $1.73 earnings per share. equities analysts predict that Advance Auto Parts will post 5.22 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Advance Auto Parts during the 3rd quarter worth about $16,576,000. Billings Capital Management LLC acquired a new stake in Advance Auto Parts in the 3rd quarter worth about $19,331,000. TT International raised its stake in Advance Auto Parts by 134.4% in the 3rd quarter. TT International now owns 33,184 shares of the company’s stock worth $3,291,000 after purchasing an additional 19,025 shares in the last quarter. Dean Investment Associates LLC raised its stake in Advance Auto Parts by 25.1% in the 3rd quarter. Dean Investment Associates LLC now owns 6,258 shares of the company’s stock worth $621,000 after purchasing an additional 1,257 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in Advance Auto Parts by 48.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,339,056 shares of the company’s stock worth $132,834,000 after purchasing an additional 435,798 shares in the last quarter.

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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.

Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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