Advance Auto Parts (NYSE:AAP) Price Target Raised to $228.00

Advance Auto Parts (NYSE:AAP) had its target price hoisted by research analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $193.00 to $228.00 in a research report issued on Wednesday, Stock Target Advisor reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s target price would indicate a potential upside of 14.07% from the company’s current price.

Several other research firms have also issued reports on AAP. JPMorgan Chase & Co. upped their target price on Advance Auto Parts from $211.00 to $227.00 in a report on Wednesday. UBS Group upped their target price on Advance Auto Parts from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, March 17th. Stephens upped their target price on Advance Auto Parts from $175.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, March 26th. Royal Bank of Canada upped their target price on Advance Auto Parts from $206.00 to $216.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup upped their target price on Advance Auto Parts from $193.00 to $228.00 in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $178.43.

Shares of Advance Auto Parts stock traded up $5.96 during trading on Wednesday, reaching $199.87. The stock had a trading volume of 1,220,754 shares, compared to its average volume of 1,018,458. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 1.31 and a beta of 1.27. The stock has a fifty day moving average price of $181.85 and a two-hundred day moving average price of $163.19. Advance Auto Parts has a 52 week low of $112.41 and a 52 week high of $202.54. The company has a current ratio of 1.38, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings results on Monday, February 15th. The company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.10). The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.34 billion. Advance Auto Parts had a net margin of 4.84% and a return on equity of 15.75%. During the same quarter last year, the firm earned $1.64 earnings per share. On average, equities analysts forecast that Advance Auto Parts will post 8.57 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. lifted its stake in Advance Auto Parts by 38.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 96,809 shares of the company’s stock worth $15,250,000 after purchasing an additional 27,136 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Advance Auto Parts by 16.2% during the fourth quarter. IFM Investors Pty Ltd now owns 6,741 shares of the company’s stock worth $1,062,000 after purchasing an additional 941 shares during the last quarter. Virtu Financial LLC lifted its stake in Advance Auto Parts by 57.8% during the fourth quarter. Virtu Financial LLC now owns 6,776 shares of the company’s stock worth $1,067,000 after purchasing an additional 2,481 shares during the last quarter. Selway Asset Management lifted its stake in shares of Advance Auto Parts by 9.3% in the 4th quarter. Selway Asset Management now owns 24,700 shares of the company’s stock valued at $3,890,000 after acquiring an additional 2,100 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Advance Auto Parts by 12.4% in the 4th quarter. US Bancorp DE now owns 3,987 shares of the company’s stock valued at $628,000 after acquiring an additional 441 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Advance Auto Parts Company Profile

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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