Advance Auto Parts (NYSE:AAP – Get Rating) had its price objective lowered by equities researchers at Wedbush from $145.00 to $115.00 in a research note issued on Friday, The Fly reports. Wedbush’s target price points to a potential upside of 3.92% from the company’s current price.
Other research analysts have also issued research reports about the stock. Evercore ISI lifted their price target on shares of Advance Auto Parts to $145.00 in a research note on Tuesday, April 18th. Wells Fargo & Company cut their price target on shares of Advance Auto Parts from $150.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, May 15th. Roth Capital reaffirmed a “neutral” rating and issued a $140.00 price target (down previously from $180.00) on shares of Advance Auto Parts in a research note on Monday, February 13th. Argus lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Finally, Raymond James lowered their price objective on shares of Advance Auto Parts from $180.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 19th. Twelve research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Advance Auto Parts currently has a consensus rating of “Hold” and a consensus price target of $153.65.
Advance Auto Parts Stock Down 0.9 %
Advance Auto Parts stock opened at $110.66 on Friday. The company’s 50 day simple moving average is $121.29 and its 200 day simple moving average is $139.08. Advance Auto Parts has a fifty-two week low of $109.05 and a fifty-two week high of $212.25. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.95 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.21.
Institutional Investors Weigh In On Advance Auto Parts
Several institutional investors and hedge funds have recently bought and sold shares of AAP. Covestor Ltd lifted its holdings in shares of Advance Auto Parts by 113.7% in the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after acquiring an additional 83 shares during the last quarter. Clear Street Markets LLC lifted its holdings in shares of Advance Auto Parts by 245.9% in the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Advance Auto Parts in the first quarter valued at approximately $29,000. Machina Capital S.A.S. acquired a new position in shares of Advance Auto Parts in the first quarter valued at approximately $32,000. Finally, General Partner Inc. acquired a new position in shares of Advance Auto Parts in the fourth quarter valued at approximately $44,000. Institutional investors own 96.04% of the company’s stock.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.
- Get a free copy of the StockNews.com research report on Advance Auto Parts (AAP)
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