Royal Bank of Canada Trims Advance Auto Parts (NYSE:AAP) Target Price to $217.00

Advance Auto Parts (NYSE:AAP – Get Rating) had its price objective decreased by Royal Bank of Canada from $247.00 to $217.00 in a research note published on Wednesday, The Fly reports.

Other equities analysts have also issued reports about the stock. Wedbush lowered their target price on shares of Advance Auto Parts from $270.00 to $215.00 and set an outperform rating for the company in a report on Tuesday, May 24th. JPMorgan Chase & Co. lifted their target price on shares of Advance Auto Parts from $276.00 to $280.00 in a report on Friday, February 11th. Citigroup lowered their target price on shares of Advance Auto Parts from $294.00 to $250.00 in a report on Friday, May 13th. Wells Fargo & Company lowered their target price on shares of Advance Auto Parts from $230.00 to $200.00 and set an equal weight rating for the company in a report on Tuesday, May 24th. Finally, StockNews.com upgraded shares of Advance Auto Parts from a hold rating to a buy rating in a report on Friday, May 20th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $243.11.

Shares of AAP opened at $193.05 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.21 and a quick ratio of 0.31. Advance Auto Parts has a one year low of $172.86 and a one year high of $244.55. The company has a 50-day simple moving average of $209.22 and a two-hundred day simple moving average of $220.21. The firm has a market capitalization of $11.79 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.12 and a beta of 1.22.

Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Monday, May 23rd. The company reported $3.57 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.02). Advance Auto Parts had a return on equity of 23.63% and a net margin of 5.60%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the business earned $3.34 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts expect that Advance Auto Parts will post 13.75 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Central Bank & Trust Co. bought a new stake in Advance Auto Parts in the 1st quarter worth approximately $29,000. Life Planning Partners Inc bought a new stake in shares of Advance Auto Parts during the 4th quarter valued at $30,000. Covestor Ltd grew its position in shares of Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after acquiring an additional 83 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $35,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Advance Auto Parts during the 1st quarter valued at $41,000. 98.99% of the stock is owned by institutional investors and hedge funds.

About Advance Auto Parts (Get Rating)

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.

Read More