Advance Auto Parts (NYSE:AAP) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

AAP has been the subject of a number of other research reports. Evercore ISI began coverage on shares of Advance Auto Parts in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $185.00 price target for the company. Jefferies Financial Group reduced their price target on shares of Advance Auto Parts to $195.00 and set a “buy” rating for the company in a report on Wednesday, February 20th. Wells Fargo & Co reissued a “hold” rating and set a $175.00 price target on shares of Advance Auto Parts in a report on Tuesday, February 19th. Credit Suisse Group reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Advance Auto Parts in a report on Tuesday, February 19th. Finally, Zacks Investment Research downgraded shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $190.71.

Advance Auto Parts stock opened at $150.54 on Tuesday. Advance Auto Parts has a 12-month low of $131.49 and a 12-month high of $186.15. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.63 and a beta of 0.97. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.31 and a current ratio of 1.35.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Wednesday, May 22nd. The company reported $2.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.10. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Advance Auto Parts had a net margin of 4.45% and a return on equity of 15.23%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $2.10 earnings per share. As a group, equities research analysts expect that Advance Auto Parts will post 8.22 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Advance Auto Parts by 0.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,212 shares of the company’s stock valued at $3,788,000 after purchasing an additional 66 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of Advance Auto Parts by 3.1% in the 1st quarter. Contravisory Investment Management Inc. now owns 2,468 shares of the company’s stock valued at $421,000 after purchasing an additional 74 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Advance Auto Parts by 0.9% in the 4th quarter. CIBC Asset Management Inc now owns 8,487 shares of the company’s stock valued at $1,336,000 after purchasing an additional 75 shares during the period. Trust Co. of Vermont increased its holdings in shares of Advance Auto Parts by 4.5% in the 1st quarter. Trust Co. of Vermont now owns 1,888 shares of the company’s stock valued at $322,000 after purchasing an additional 81 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Advance Auto Parts by 1.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,815 shares of the company’s stock valued at $1,504,000 after purchasing an additional 84 shares during the period. Institutional investors own 98.99% of the company’s stock.

About Advance Auto Parts

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

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Analyst Recommendations for Advance Auto Parts (NYSE:AAP)

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